loanDepot Secures New Administrative Agent and Updates Agreements

loanDepot, Inc. (LDI) has released an update to notify the public and investors about an entry into a material definitive agreement.

Following Atlas’s resignation, Nomura Corporate Funding Americas, LLC was named as the successor administrative agent for various financial agreements, with multiple amended and restated documents executed to reflect changes such as the removal of Atlas and Nexera as parties, the addition of NCFA, and the update of benchmark provisions to exclude LIBOR. The maturity date for certain indenture supplements was extended to January 24, 2025, and loanDepot sold its rights in various notes to NCFA, which were then financed through respective Master Repurchase Agreements. LD Holdings Group LLC provided a Guaranty to NCFA as further credit enhancement. These actions are part of the broader GMSR MSR Program.

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For a comprehensive understanding of the announcement, you can read the full document here.