Loandepot, Inc. (NYSE:LDI) Q2 2022 Earnings Conference Call August 9, 2022 5:00 PM ET

Company Participants

Gerhard Erdelji - SVP, IR

Frank Martell - CEO, President & Director

Patrick Flanagan - CFO

Conference Call Participants

Douglas Harter - Crédit Suisse

Trevor Cranston - JMP Securities

Kevin Barker - Piper Sandler & Co.

Patrick McIlwee - William Blair & Company

Kyle Joseph - Jefferies

Mark DeVries - Barclays Bank

Operator

Good afternoon and welcome everyone to loanDepot's Second Quarter 2022 Conference Call. [Operator Instructions].

I would now like 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 our call. I'm Gerhard Erdelji, Investor Relations Officer at loanDepot. Today, we will discuss loanDepot second quarter 2022 results. 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 expenses. 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 sections 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 investors.loandepot.com under the Events and Presentations tab.

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

With that, I'll turn things over to Frank to get a start. Frank?

Frank Martell

Thank you, Gerhard. Thank you all for joining us on today's call. I look forward to sharing my perspective on market conditions, our results and the company's Vision 2025 plan. Our second quarter results reflect some large call it items, which Pat will elaborate on shortly, as well as the challenging market environment that continued in our industry, which resulted in declines in our mortgage volumes and profit margins. As we discussed a few weeks ago during our public announcement of our Vision 2025 plan, like other mortgage companies, we scaled our organization during 2020 and 2021 to meet the demands of unprecedented mortgage volumes, especially refinancing transactions.