loanDepot is reentering the wholesale channel four years after formally exiting the segment, the company announced Monday. The move was first anticipated in August by HousingWire.
Dan Peña, president of partnership lending at the California-based lender, will lead the new wholesale division. Matt Mancasola is also returning to the company as vice president of wholesale lending. Mancasola previously held leadership roles at Wachovia Securities (now Wells Fargo Advisors), Caliber Home Loans (now Newrez) and Homepoint.
loanDepot said the wholesale channel will operate on the company’s proprietary mortgage platform and offer competitive pricing, a full range of loan products and high-touch support, according to a news release.
The wholesale channel is dominated by United Wholesale Mortgage (UWM), which originated about $161 billion in loans in 2025. Other major players include Rocket Mortgage ($35.9 billion), Pennymac ($20.5 billion) and The Loan Store ($12.5 billion), according to estimates from Inside Mortgage Finance (IMF).
Mortgage brokers held a 20.2% market share in the fourth quarter of 2025, up from 19.6% a year earlier, while broker volume grew nearly 17% last year, per IMF data.
“Brokers deserve a partner who shows up for them — seasoned account executives who know how to earn trust, high-touch support when it matters most, and a team that understands their business,” Peña said in a statement.
“We’re combining that relationship-driven approach with the digital convenience and efficiency brokers expect today, creating a best-in-class platform our broker partners can rely on to deliver an exceptional experience to their customers.”
loanDepot shut down its wholesale division in August 2022 after Frank Martell became CEO. At the time, the company said it would redirect resources to other origination channels, reduce operational complexity, and improve margins amid declining production and a $21.3 million loss.
Since then, the lender has focused on consumer-direct lending while forming joint ventures with national homebuilders and affinity partners to reduce customer acquisition costs. The company also maintains a retail channel in which loan officers build relationships with real estate agents and builders while receiving leads directly from loanDepot.
In August, some brokers welcomed the idea of adding loanDepot back as an option for borrowers, while others were wary of competition from the lender’s large direct-to-consumer channel, a common concern with multichannel lenders.
“By leveraging the existing shared services infrastructure of our joint venture channel, we are well positioned to scale this business and add a new source of profitable growth,” Anthony Hsieh, the company’s founder and CEO, said in a statement.
Hsieh returned to day-to-day operations in the first quarter of 2025 and officially reclaimed the CEO role on a permanent basis at the end of July.
First Time Home Buyer FAQs - Via HousingWire.com
