The online mortgage company, loanDepot.com, said in a press release on Wednesday that it has securitized its first pools of mortgage loans guaranteed by Freddie Mac and Ginnie Mae.
The Foothill Ranch, Calif.-based firm will retain the servicing rights of the loans. It also plans to issue securities guaranteed by Fannie Mae during 3Q12 and plans to retain servicing on those loans as well.
The mortgage company also announced that it has become a national lender with licenses in all 50 states.
"National coverage, full GSE approval and the ability to service loans is a tremendous advantage in today's marketplace where flexibility is necessary for success," said Anthony Hsieh, CEO of the company. "This strategy gives loanDepot the ability to leverage its world-class platform in many different ways, including working directly with consumers all over the country and working with lenders or banks that need help servicing their existing customer base."
