loanDepot, Inc. (NYSE:LDI) Q3 2023 Earnings Conference Call November 7, 2023 5:00 PM ET

Company Participants

Gerhard Erdelji - SVP, IR

Frank Martell - President and CEO

David Hayes - CFO

Jeff DerGurahian - CIO

Jeff Walsh - LDI Mortgage President

Conference Call Participants

Kyle Joseph - Jefferies

Operator

Good afternoon, and welcome to loanDepot's Third Quarter 2023 Earnings Call. [Operator Instructions].

I would like now to turn the call over to Gerhard Erdelji, Senior Vice President, Investor Relations. Please go ahead.

Gerhard Erdelji

Good afternoon, everyone and thank you for joining loanDepot's third quarter 2023 earnings call. Before we begin, I would like to remind everyone that this conference call may include forward-looking statements regarding the company's operating and financial performance in future periods. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, but not limited to, guidance to our pull-through weighted rate lock volume, origination volume, pull-through weighted gain on sale margin and expense trends. These statements are based on the company's current expectations and available information. Actual results for future periods may differ materially from these forward-looking statements due to risks or other factors that are described in the Risk Factors section of our filings with the SEC. A webcast and a transcript of this call will be posted on the company's Investor Relations website at investor.loandepot.com under the Events & Presentations tab.

On today's call, we have loanDepot President and Chief Executive Officer, Frank Martell; and Chief Financial Officer, David Hayes, to provide an overview of our quarter as well as our financial and operational results, outlook and to answer your question. We are also joined by our Chief Investment Officer, Jeff DerGurahian; and LDI Mortgage President, Jeff Walsh, to help address any questions you might have after our prepared remarks.

And with that, I'll turn things over to Frank to get us started. Frank?

Frank Martell

Thank you, Gerhard, and thank you all for joining us today. I look forward to sharing my perspective on market conditions and our results. loanDepot continues to make significant progress against the imperatives we laid out in our Vision 2025 plan back in July of 2022. As you may recall, Vision 2025 focused on four main areas.

First, transforming our origination's business to drive purchase money transactions with an expanded emphasis on purchase-driven lending. Second, investing in profitable growth-generating initiatives and critical business operating platforms and processes to support operating leverage and best-in-class quality and delivery. Third, aggressively right-sizing our cost structure to address current and future projected market conditions. And fourth and finally, optimizing and simplifying our organizational structure.