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loanDepot to Pay Off Mortgages For Customer, Employee

As loanDepot begins its second decade, CEO and Founder Anthony Hsieh announced the Company will celebrate with a special thank you—paying off one customer and one employee’s mortgage. The giveaway, known as the nextX Mortgage Sweepstakes, will run through November and will feature $680,000 in total prizes.

“This sweepstakes is our special way of extending our deepest thanks to our customers and to our employees,” said Hsieh. “When we opened our doors, it was our goal to help as many Americans achieve the dream of homeownership and to find financial success. Today, we are delighted and humbled by the impact our efforts have achieved thus far, and look forward to exponentially expanding that volume in our next decade.”

The nextX Mortgage Sweepstakes is part of the company’s year-long #nextX celebration, which commemorates the momentous milestones the company has achieved in its first decade in business. The company made a courageous and bold decision to launch post-financial crisis, at a time when many mortgage companies had either closed their doors or had significantly scaled back. 

Due to the vision of Hsieh, loanDepot has become the nation’s second-largest nonbank lender while at the same time revolutionizing the industry.

“We founded loanDepot in 2010 with one goal: to delight the customer,” said Hsieh. “Everything we do—and have done—in every area of the business has been strategically focused on that sole accomplishment. And that is, in a large part, how we’ve achieved such trajectory in such a short time.”

Initially based in Southern California with a few dozen employees, loanDepot now boasts a nationwide footprint, with multiple operations centers and hundreds of branch locations. Its plus-6,500 employees serve hundreds of thousands of customers annually, all led by Hsieh, who was named Fintech Executive of the Year at the 2018 Lendit Fintech.

Under Hsieh’s direction, the company has made a $100 million investment in its proprietary mello technology that creates a more seamless loan experience for customers and loan officers alike. Additionally, the Company was the first nonbank lender to expand beyond mortgage loan products. And, in its quest to vastly improve the industry’s antiquated loan processes, it introduced its mello smartloan, the industry’s first-ever fully end-to-end digital mortgage that uses artificial intelligence to complete itself.

Hsieh, who values the importance of giving back, also founded War Heroes on Water, a sportfishing tournament designed to show appreciation to combat-wounded veterans and to raise awareness of the challenges that veterans face after their tours are complete. His goal for the Sweepstakes is similar—to change people’s lives.

“Being able to help someone pay off their home—or purchase a new one—is a life-changing moment, and we are looking forward to celebrating with them on the big day,” he added.

The consumer sweepstakes will feature nine monthly $10,000 prizes and one $250,000 grand prize to pay off or purchase a new home. The company is also celebrating the efforts of its employees by offering a similar giveaway.

To learn more about the Sweepstakes, please visit www.loandepotnextx.com

About Author: Mike Albanese

A graduate of the University of Alabama, Mike Albanese has worked for news publications since 2011 in Texas and Colorado. He has built a portfolio of more than 1,000 articles, covering city government, police and crime, business, sports, and is experienced in crafting engaging features and enterprise pieces. He spent time as the sports editor for the "Pilot Point Post-Signal," and has covered the DFW Metroplex for several years. He has also assisted with sports coverage and editing duties with the "Dallas Morning News" and "Denton Record-Chronicle" over the past several years.

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