8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________

FORM 8-K

_____________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report: July 28, 2021

_____________________

loanDepot, Inc.

(Exact Name of Registrant as Specified in its Charter)

_____________________

Delaware	001-40003	85-3948939
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

26642 Towne Centre Drive

Foothill Ranch, California 92610

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (888) 337-6888

_____________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A Common Stock, $0.001 Par Value	LDI	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  o

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 28, 2021, the Board of Directors (“Board”) of loanDepot, Inc. (“loanDepot” or the “Company”) appointed Michael Linton, age 64, and Pamela Hughes Patenaude, age 60, as a Class I and a Class II member of the Company’s Board, respectively, with immediate effect. Class I directors’ terms expire at the next annual meeting of stockholders, and Class II directors’ terms expire at the following annual meeting of stockholders, being the only difference between Class I and Class II directors. The Board also appointed Mr. Linton to serve as a member of the Compensation Committee of the Board and Ms. atenaude to serve as a member of the Audit Committee of the Board. Mr. Linton and Ms. Patenaude are independent directors under the criteria established by the New York Stock Exchange and under loanDepot’s Corporate Governance Guidelines.

Mr. Linton and Ms. Patenaude will participate in the Company’s Director Compensation Program, pursuant to which the Company expects to pay each of Ms. Patenaude and Mr. Linton an annual retainer of $250,000 payable 50% in cash and 50% in equity.

There are no arrangements or transactions between the Company and Mr. Linton or Ms. Patenaude of the type that are required to be disclosed pursuant to Item 404(a) of Regulation S-K adopted by the Securities and Exchange Commission.

Item 7.01 Regulation FD Disclosure.

On July 30, 2021, the Company issued a press release announcing Mr. Linton’s and Ms. Patenaude's appointments to the Board. The full text of the press release is attached hereto as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Press release dated July 30, 2021.
104	Cover Page Interactive Data File (embedded with the Inline XBRL document

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

loanDepot, Inc.

By: /s/ Peter Macdonald

Name: Peter Macdonald

Title: Executive Vice President,

          General Counsel & Secretary

Date: July 30, 2021

EX-99.1

Mike Linton and Pamela Hughes Patenaude to join loanDepot board of directors

Linton’s extensive consumer experience and Patenaude’s deep housing sector expertise to strengthen loanDepot’s offering and accelerate strategic growth

FOOTHILL RANCH, Calif., July 30, 2021 – loanDepot, Inc. (the “Company,” NYSE: “LDI,” together with its subsidiaries, “loanDepot”), the nonbank lending innovator that is using its proprietary mello® technology to transform the mortgage industry, today announced the appointment of Mike Linton, a consumer and product marketing expert, and Pamela Hughes Patenaude, a prominent housing policy expert and former deputy secretary of the U.S. Department of Housing and Urban Development, to its board of directors.

“We are at a critical point in our growth trajectory as a new public company focused on expanding and enhancing our technology-powered products and services to continue providing seamless experiences for our customers throughout their home ownership journey,” said loanDepot Founder, Chairman and CEO Anthony Hsieh. “Mike is well known for his unique ability to build strong customer relationships and brands, and Pam has extensive experience solving complex problems in the real estate and housing policy space. Together, they will be instrumental in helping our board and management to drive long term value for our stakeholders by delivering on our mission to delight customers and exceed their expectations.”

“It is an extraordinary opportunity to serve on the board of a company that clearly understands the importance of having a recognizable and trustworthy brand that resonates with its core customers,” said Linton. “As remarkable as its first 11 years have been in building its esteemed reputation, loanDepot has incredible potential to reach and impact even more customers by building on its track record of introducing innovative products and services.”

“loanDepot has been a true disruptor in the mortgage industry and built an incredibly strong business by anticipating the housing market and setting the pace for others to follow,” said Patenaude. “It is an honor to join the board, Anthony and his team as they embrace the opportunities in this constantly shifting mortgage market and continue to innovate at the forefront of this industry.”

Mike Linton

Linton brings more than 35 years of experience in product marketing and customer experience management. He joined Ancestry, the global leader in family history and consumer genomics, as chief revenue officer in September 2019 to lead consumer and product marketing with a focus on accelerating growth and continuing to build a global brand that consumers love and trust. Prior to Ancestry, he served as the chief marketing officer of Farmers Insurance where his responsibilities included strategic planning, marketing, research, internal and external communications, customer experience and managing the company’s digital and mobile efforts.

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Prior to that, Linton has held various positions at companies, including eBay, Procter & Gamble and Progressive Insurance. He also served as Best Buy’s first chief marketing officer.

Linton is currently on the board of directors of Medical Solutions and The Wine Group and advises several early-stage companies. He previously served on the boards of Peet’s Coffee & Tea, Allen Edmonds and Capella Education. Among numerous recognitions, he was named one of the 30 most influential marketers three times by Ad Age and has been awarded four Effies and a Valiente in addition to being elected to the Retail Advertising Hall of Fame. In 2017, Linton was also named one of the 50 most innovative chief marketing officers in the world by Business Insider and client of the year by ThinkLA. Linton received his undergraduate degree from Bowling Green State University and his MBA from Duke University's Fuqua School of Business.

Pamela Hughes Patenaude

Patenaude is an accomplished real estate, housing policy and disaster recovery expert with a three-decade track record of success as an executive in government, the nonprofit sector and private industry. Patenaude served as the deputy secretary of the U.S. Department of Housing and Urban Development and managed the day-to-day operations of the $52 billion cabinet level agency with a diverse portfolio of federal housing and community development programs and more than 7,000 employees located in 65 offices nationwide.

She currently serves on the board of directors for Habitat for Humanity International and the Bipartisan Policy Center. Patenaude is a trustee and vice chairman of the Home Builders Institute, and a member of the FDIC Advisory Committee on Economic Inclusion. Patenaude is the principal of Granite Housing Strategies, LLC, where she serves as a strategic advisor for clients engaged in real estate development, affordable housing and disaster recovery management. Patenaude recently served as an independent director of CoreLogic, Inc., where she was a member of the audit and compensation committees. Patenaude previously served as the President of the J. Ronald Terwilliger Foundation for Housing America’s Families, a national nonprofit, education, and research organization dedicated to illuminating America’s affordable housing crisis. Patenaude was the first recipient of the CoreLogic EPIQ Impact Award and was honored as one of Housing Wire magazine’s “2013 Woman of Influence.” Patenaude earned a Bachelor of Science degree from Saint Anselm College and a Master of Science degree in community economic development from Southern New Hampshire University.

About loanDepot:

loanDepot is a contemporary financial services company dedicated to delivering a best-in-class experience to its mortgage purchase and refinance customers. Launched in 2010, loanDepot offers a diversified network of retail and partner business channels, uniquely positioning it to serve a wide range of customers. Headquartered in Southern California, loanDepot has funded more than $350 billion in mortgage loans since its founding and currently ranks as the second largest retail nonbank lender and one of the leading retail mortgage lenders in the United States. Committed to serving the communities in which its team members live and work,

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loanDepot has donated millions of dollars to support a variety of local, regional and national philanthropic efforts, most recently giving more than $2.5 million to help with COVID-related efforts for first responders, healthcare workers, individuals and families nationwide. loanDepot is a founding sponsor of War Heroes on Water, which supports ongoing therapeutic healing services for combat-wounded veterans nationwide.

Investor Relations Contact:

Gerhard Erdelji
SVP, Investor Relations
(949) 822-4074
IR@loandepot.com

Media Contact:

Rebecca Anderson
SVP, Strategic Communications & Public Relations

(949) 822-4024
rebeccaanderson@loandepot.com

LDI-IR 

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XML

Cover	Feb. 18, 2021
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jul. 28, 2021
Entity Registrant Name	loanDepot, Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-40003
Entity Tax Identification Number	85-3948939
Entity Address, Address Line One	26642 Towne Centre Drive
Entity Address, City or Town	Foothill Ranch
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92610
City Area Code	(888)
Local Phone Number	337-6888
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Class A Common Stock, $0.001 Par Value
Trading Symbol	LDI
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0001831631