Partners Announces Investment in loanDepot
Summary
The purpose of the investment is to provide the necessary growth capital for the Company to secure warehouse funding and to continue to develop the leading origination platform in the industry. “Since we first met Anthony and his team in 2003, we have looked for the right opportunity to partner with them, and we’re excited to have found it by supporting their new venture, loanDepot.” loanDepot, which officially launches this week, provides purchase mortgages and refinancing direct to consumers through its online portal, www.loanDepot.com. Mr. Hsieh and his team have built the technology and the systems required to provide exceptional customer service, efficient mortgage processing, and stringent underwriting. Andrew Dodson, Principal in Parthenon’s San Francisco office, remarked, “the recent consolidation and heightened regulatory requirements have caused considerable dislocation in the mortgage industry. Parthenon’s investment team has deep experience in corporate strategy, capital markets and operations, enabling the firm to pursue complex, multi-faceted value creation opportunities.