loanDepot, Inc. (LDI) has released an update to notify the public and investors about a termination of a material definitive agreement.
loanDepot.com, LLC, a subsidiary of loanDepot, Inc., has entered into various amended and restated agreements following the resignation of Atlas as administrative agent and the termination of existing variable funding notes documents. Nomura Corporate Funding Americas, LLC was appointed the new administrative agent, and loanDepot revised documents to remove references to previous parties, update benchmark provisions, and extend maturity dates. Additionally, loanDepot re-issued and sold certain notes to Nomura, backed by a guaranty from LD Holdings Group LLC, as part of the Ginnie Mae mortgage servicing rights program.
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For a comprehensive understanding of the announcement, you can read the full document here.
