<ul>
<li>这就是推动 Upstart Holdings 股票年初至今上涨 125% 的原因</li>
</ul>
<p>loanDepot NYSE: LDI 在 2026 年第一季度报告了更大的调整后亏损，因为销售利润率下降和利率波动对收入造成了压力，尽管这家抵押贷款公司表示它继续获得市场份额并投资于增长计划。</p>
<p>首席执行官安东尼·谢（Anthony Hsieh）表示，公司 “已经进行了三个季度的重建”，并专注于长期增长计划，包括增加超过 100 名贷款专员、重新启动其批发业务以及与 Figure Technology Solutions 的新合作伙伴关系。</p>
<p>“尽管市场环境波动，这些举措帮助我们在本季度增加了市场份额，我认为这对我们在当前市场实现持续盈利的目标至关重要，” 谢说。</p>
<h2>调整后亏损扩大，利润率压缩</h2>
<p>首席财务官大卫·海斯（David Hayes）表示，loanDepot 在第一季度报告了 3400 万美元的调整后净亏损，而 2025 年第四季度的调整后净亏损为 2100 万美元。他将这一变化主要归因于销售利润率的下降，部分被费用的降低所抵消。</p>
<p>调整后的总收入为 2.99 亿美元，低于上一季度的 3.16 亿美元。销售锁定量为 83 亿美元，比第四季度的 73 亿美元增长了 14%，在公司之前的指导范围 77.5 亿美元至 87.5 亿美元之内。</p>
<p>贷款发放量为 77 亿美元，较上一季度的 80 亿美元下降 5%，但在公司指导范围 67.5 亿美元至 77.5 亿美元的高端。海斯表示，已关闭的贷款量代表了市场份额的增加，反映了公司在增加贷款专员方面的投资。</p>
<p>公司的销售利润率为 271 个基点，处于其指导范围 270 至 300 个基点的低端，低于上一季度的 324 个基点。海斯表示，下降反映了利率波动和产品组合的变化，包括较少的高利润 FHA、VA 和 HELOC 贷款，以及更多的常规贷款。</p>
<p>“地缘政治环境在第一季度造成了利率的急剧上升，” 海斯说，并补充说，较高的利率也导致抵押贷款服务和交易证券的负公允价值标记扩大。</p>
<h2>尽管招聘，费用下降</h2>
<p>尽管公司之前预计费用会增加，但总费用比第四季度减少了 56.5 万美元。海斯表示，下降主要是由于实施了更高效的佣金策略后佣金降低，以及市场营销费用减少 12%。</p>
<p>谢表示，loanDepot 精简了其营销策略，以推动更多的锁定量，同时降低营销成本，提高了营销回报。海斯表示，由于员工人数增加和季节性雇佣税的重置，薪资相关费用上升，而直接发放费用增加是因为供应商提高了信用报告成本。</p>
<p>公司在季度末现金余额为 2.77 亿美元，比第四季度减少了 6000 万美元。海斯表示，下降反映了净亏损、对服务权的投资以及与抵押贷款服务权担保贷款相关的时间差异。</p>
<h2>Figure 合作伙伴关系和 5x5 HomeLoan 预计将推动产品组合变化</h2>
<p>loanDepot 强调与 Figure Technology Solutions 的合作伙伴关系是其数字战略的关键部分。谢表示，公司将 Figure 的信用和贷款承保引擎集成到 loanDepot 的 mello 技术平台中，使其能够提供新的住房贷款产品。</p>
<p>公司正在强调其 5x5 HomeLoan 产品，谢表示该产品可以在短短五分钟内获得批准，并在五天内完成资金发放。他表示，该产品旨在为寻求速度和便利的借款人服务，并预计在各渠道整合时将降低生产成本。</p>
<p>海斯表示，该产品也影响了公司第二季度的指导，因为 HELOC 产品不涉及利率锁定。因此，预计来自这些贷款的量不包括在锁定量指导中，但包括在已关闭发放量指导中。</p>
<p>在回应美国银行分析师米希尔·巴蒂亚（Mihir Bhatia）的问题时，海斯表示，第二季度预计的销售利润率的提高 “首先” 与 5x5 产品相关，该产品具有更强的销售利润率。他还表示，公司正在看到产品组合向 FHA、VA 和更高的房屋净值量回归。</p>
<h2>第二季度展望呼吁更高的发放量</h2>
<p>对于第二季度，loanDepot 预计销售锁定量为 57.5 亿美元至 77.5 亿美元，发放量为 72.5 亿美元至 92.5 亿美元。公司预计销售利润率为 330 至 360 个基点。</p>
<p>海斯表示，第二季度的总费用预计将增加，主要是由于与更高预期发放量相关的费用增加。</p>
<p>服务费收入在第一季度下降至 1.09 亿美元，低于第四季度的 1.13 亿美元，海斯将其主要归因于保管余额的利息收入降低和季度天数减少。公司的回收率从上一季度的 71% 上升至 73%。</p>
<h2>管理层重申盈利目标</h2>
<p>谢表示，公司仍然专注于无论利率变动如何都能恢复持续盈利，尽管他说利率下降将缩短时间表。他表示，loanDepot 计划继续投资于客户获取、发放能力、技术和人工智能，以提高效率并降低成本。</p>
<p>针对 Citizens JMP 分析师 Mikhail Goberman 关于是否需要大幅下降的抵押贷款利率才能改善盈利的提问，谢表示公司将受益于较低的 10 年期收益率，但基于市场份额、收入增长和营销效率的进展，仍然 “相当看好”。</p>
<p>海耶斯还回答了关于即将到期债务的问题，表示管理层和董事会正在积极参与并与银行家讨论策略。他表示公司希望在 “未来几个月” 内达成解决方案，同时指出市场仍然动荡。</p>
<p>谢在电话会议结束时重申了四个目标：投资于增长和基础设施，成为更高效的抵押贷款银行，扩大盈利市场份额，并通过发放增长、服务组合扩展、更高的回收率、品牌投资和运营杠杆实现盈利。</p>
<h2>关于 loanDepot NYSE: LDI</h2>
<p>loanDepot, Inc NYSE: LDI 是一家领先的非银行消费者贷款机构，通过数字化平台提供广泛的住房和个人融资产品。该公司专注于发放和服务购房和再融资抵押贷款、房屋净值信用额度（HELOCs）和个人贷款。通过其专有的 mello™技术套件，loanDepot 简化了借款人和房地产专业人士的申请、承保和结案流程，强调速度、透明度和无缝的数字体验。</p>
<p>loanDepot 成立于 2010 年，由 Anthony Hsieh 创办，迅速成长为美国最大的独立抵押贷款机构之一。</p>
<p><em>此即时新闻提醒由叙事科学技术和 MarketBeat 的金融数据生成，以便为读者提供最快的报道和公正的覆盖。如对本故事有任何问题或意见，请发送至 contact@marketbeat.com.</em></p>
<h2>你现在应该投资$1,000 在 loanDepot 吗？</h2>
<p>在考虑 loanDepot 之前，你需要听听这个。</p>
<p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已识别出五只顶级分析师悄悄向客户推荐的股票，建议在更广泛的市场注意到之前购买……而 loanDepot 并不在名单上。</p>
<p>虽然 loanDepot 目前在分析师中被评为强烈卖出，但顶级分析师认为这五只股票更值得购买。</p>
<p>在这里查看这五只股票</p>

<p>loanDepot（纽约证券交易所代码：LDI）报告称，2026 年第一季度调整后亏损扩大至 3400 万美元，受到销售利润率下降和利率波动的影响。尽管如此，公司仍获得了市场份额，并投资于增长计划，包括招聘超过 100 名贷款专员以及与 Figure Technology Solutions 建立新的合作关系。调整后的总收入下降至 2.99 亿美元，而贷款发放量为 77 亿美元。对于第二季度，loanDepot 预计贷款发放量将增加，销售利润率将改善，这得益于其新的 5x5 HomeLoan 产品</p>

<ul>
<li>Here’s What Driving the 125% YTD Gains for Upstart Holdings Stock</li>
</ul>
<div class="lb-trans"><ul>
<li>这就是推动 Upstart Holdings 股票年初至今上涨 125% 的原因</li>
</ul>
</div><p>loanDepot NYSE: LDI reported a wider adjusted loss for the first quarter of 2026 as lower gain-on-sale margins and interest rate volatility weighed on revenue, even as the mortgage lender said it continued to gain market share and invest in growth initiatives.</p>
<div class="lb-trans"><p>loanDepot NYSE: LDI 在 2026 年第一季度报告了更大的调整后亏损，因为销售利润率下降和利率波动对收入造成了压力，尽管这家抵押贷款公司表示它继续获得市场份额并投资于增长计划。</p>
</div><p>Chief Executive Officer Anthony Hsieh said the company is “three quarters into the rebuild” and has focused on long-term growth initiatives including the addition of more than 100 loan officers, the relaunch of its wholesale business and a new partnership with Figure Technology Solutions.</p>
<div class="lb-trans"><p>首席执行官安东尼·谢（Anthony Hsieh）表示，公司 “已经进行了三个季度的重建”，并专注于长期增长计划，包括增加超过 100 名贷款专员、重新启动其批发业务以及与 Figure Technology Solutions 的新合作伙伴关系。</p>
</div><p>“Despite a volatile market environment, these initiatives help us increase market share during the quarter, which I consider vital to our goal of achieving consistent profitability in the current market,” Hsieh said.</p>
<div class="lb-trans"><p>“尽管市场环境波动，这些举措帮助我们在本季度增加了市场份额，我认为这对我们在当前市场实现持续盈利的目标至关重要，” 谢说。</p>
</div><h2>Adjusted Loss Widens as Margins Compress</h2>
<div class="lb-trans"><h2>调整后亏损扩大，利润率压缩</h2>
</div><p>Chief Financial Officer David Hayes said loanDepot reported an adjusted net loss of $34 million in the first quarter, compared with an adjusted net loss of $21 million in the fourth quarter of 2025. He attributed the change primarily to a lower pull-through weighted gain-on-sale margin, partially offset by lower expenses.</p>
<div class="lb-trans"><p>首席财务官大卫·海斯（David Hayes）表示，loanDepot 在第一季度报告了 3400 万美元的调整后净亏损，而 2025 年第四季度的调整后净亏损为 2100 万美元。他将这一变化主要归因于销售利润率的下降，部分被费用的降低所抵消。</p>
</div><p>Adjusted total revenue was $299 million, down from $316 million in the prior quarter. Pull-through weighted rate lock volume was $8.3 billion, up 14% from $7.3 billion in the fourth quarter and within the company’s prior guidance range of $7.75 billion to $8.75 billion.</p>
<div class="lb-trans"><p>调整后的总收入为 2.99 亿美元，低于上一季度的 3.16 亿美元。销售锁定量为 83 亿美元，比第四季度的 73 亿美元增长了 14%，在公司之前的指导范围 77.5 亿美元至 87.5 亿美元之内。</p>
</div><p>Loan origination volume was $7.7 billion, down 5% from $8 billion in the prior quarter, but at the high end of the company’s guidance range of $6.75 billion to $7.75 billion. Hayes said closed loan volume represented a market share increase, reflecting the company’s investment in adding loan officers.</p>
<div class="lb-trans"><p>贷款发放量为 77 亿美元，较上一季度的 80 亿美元下降 5%，但在公司指导范围 67.5 亿美元至 77.5 亿美元的高端。海斯表示，已关闭的贷款量代表了市场份额的增加，反映了公司在增加贷款专员方面的投资。</p>
</div><p>The company’s pull-through weighted gain-on-sale margin was 271 basis points, at the low end of its guidance range of 270 to 300 basis points and down from 324 basis points in the prior quarter. Hayes said the decline reflected interest rate volatility and a shift in product mix, including fewer higher-margin FHA, VA and HELOC loans and more conventional loans.</p>
<div class="lb-trans"><p>公司的销售利润率为 271 个基点，处于其指导范围 270 至 300 个基点的低端，低于上一季度的 324 个基点。海斯表示，下降反映了利率波动和产品组合的变化，包括较少的高利润 FHA、VA 和 HELOC 贷款，以及更多的常规贷款。</p>
</div><p>“The geopolitical environment created a sharp increase in interest rates during the first quarter,” Hayes said, adding that higher rates also generated wider negative fair value marks on mortgage servicing and trading securities.</p>
<div class="lb-trans"><p>“地缘政治环境在第一季度造成了利率的急剧上升，” 海斯说，并补充说，较高的利率也导致抵押贷款服务和交易证券的负公允价值标记扩大。</p>
</div><h2>Expenses Decline Despite Hiring</h2>
<div class="lb-trans"><h2>尽管招聘，费用下降</h2>
</div><p>Total expenses decreased by $565,000 from the fourth quarter, despite the company’s previous guidance for higher expenses. Hayes said the decline was driven by lower commissions following the implementation of more efficient commission strategies and a 12% reduction in marketing expenses.</p>
<div class="lb-trans"><p>尽管公司之前预计费用会增加，但总费用比第四季度减少了 56.5 万美元。海斯表示，下降主要是由于实施了更高效的佣金策略后佣金降低，以及市场营销费用减少 12%。</p>
</div><p>Hsieh said loanDepot sharpened its marketing strategy to drive more lock volume while reducing marketing costs, increasing its return on marketing. Hayes said salary-related expenses rose because of higher headcount and seasonal employment tax resets, while direct origination expenses increased as vendors raised credit reporting costs.</p>
<div class="lb-trans"><p>谢表示，loanDepot 精简了其营销策略，以推动更多的锁定量，同时降低营销成本，提高了营销回报。海斯表示，由于员工人数增加和季节性雇佣税的重置，薪资相关费用上升，而直接发放费用增加是因为供应商提高了信用报告成本。</p>
</div><p>The company ended the quarter with $277 million in cash, down $60 million from the fourth quarter. Hayes said the decline reflected the net loss, investment in servicing rights and timing differences related to mortgage servicing rights secured loans.</p>
<div class="lb-trans"><p>公司在季度末现金余额为 2.77 亿美元，比第四季度减少了 6000 万美元。海斯表示，下降反映了净亏损、对服务权的投资以及与抵押贷款服务权担保贷款相关的时间差异。</p>
</div><h2>Figure Partnership and 5x5 HomeLoan Expected to Drive Mix Shift</h2>
<div class="lb-trans"><h2>Figure 合作伙伴关系和 5x5 HomeLoan 预计将推动产品组合变化</h2>
</div><p>loanDepot highlighted its partnership with Figure Technology Solutions as a key part of its digital strategy. Hsieh said the company integrated Figure’s credit and loan underwriting engine into loanDepot’s mello technology platform, allowing it to offer new home loan products.</p>
<div class="lb-trans"><p>loanDepot 强调与 Figure Technology Solutions 的合作伙伴关系是其数字战略的关键部分。谢表示，公司将 Figure 的信用和贷款承保引擎集成到 loanDepot 的 mello 技术平台中，使其能够提供新的住房贷款产品。</p>
</div><p>The company is emphasizing its 5x5 HomeLoan product, which Hsieh said can deliver approval in as little as five minutes and funding in as few as five days. He said the product is designed to serve borrowers seeking speed and convenience and is expected to reduce production costs as it is integrated across channels.</p>
<div class="lb-trans"><p>公司正在强调其 5x5 HomeLoan 产品，谢表示该产品可以在短短五分钟内获得批准，并在五天内完成资金发放。他表示，该产品旨在为寻求速度和便利的借款人服务，并预计在各渠道整合时将降低生产成本。</p>
</div><p>Hayes said the product is also affecting the company’s second-quarter guidance because HELOC products do not involve an interest rate lock. As a result, expected volume from those loans is not included in lock volume guidance but is included in closed origination volume guidance.</p>
<div class="lb-trans"><p>海斯表示，该产品也影响了公司第二季度的指导，因为 HELOC 产品不涉及利率锁定。因此，预计来自这些贷款的量不包括在锁定量指导中，但包括在已关闭发放量指导中。</p>
</div><p>In response to a question from Bank of America analyst Mihir Bhatia, Hayes said the expected increase in gain-on-sale margin in the second quarter is “first and foremost” tied to the 5x5 product, which carries a stronger gain-on-sale margin. He also said the company is seeing product mix shift back toward FHA, VA and higher home equity volumes.</p>
<div class="lb-trans"><p>在回应美国银行分析师米希尔·巴蒂亚（Mihir Bhatia）的问题时，海斯表示，第二季度预计的销售利润率的提高 “首先” 与 5x5 产品相关，该产品具有更强的销售利润率。他还表示，公司正在看到产品组合向 FHA、VA 和更高的房屋净值量回归。</p>
</div><h2>Second-Quarter Outlook Calls for Higher Originations</h2>
<div class="lb-trans"><h2>第二季度展望呼吁更高的发放量</h2>
</div><p>For the second quarter, loanDepot expects pull-through weighted lock volume of $5.75 billion to $7.75 billion and origination volume of $7.25 billion to $9.25 billion. The company expects pull-through weighted gain-on-sale margin of 330 to 360 basis points.</p>
<div class="lb-trans"><p>对于第二季度，loanDepot 预计销售锁定量为 57.5 亿美元至 77.5 亿美元，发放量为 72.5 亿美元至 92.5 亿美元。公司预计销售利润率为 330 至 360 个基点。</p>
</div><p>Hayes said total expenses are expected to increase in the second quarter, primarily because of higher volume-related costs tied to higher expected originations.</p>
<div class="lb-trans"><p>海斯表示，第二季度的总费用预计将增加，主要是由于与更高预期发放量相关的费用增加。</p>
</div><p>Servicing fee income declined to $109 million in the first quarter from $113 million in the fourth quarter, which Hayes attributed mainly to lower interest earnings from custodial balances and fewer days in the quarter. The company’s recapture rate rose to 73% from 71% in the prior quarter.</p>
<div class="lb-trans"><p>服务费收入在第一季度下降至 1.09 亿美元，低于第四季度的 1.13 亿美元，海斯将其主要归因于保管余额的利息收入降低和季度天数减少。公司的回收率从上一季度的 71% 上升至 73%。</p>
</div><h2>Management Reiterates Profitability Goal</h2>
<div class="lb-trans"><h2>管理层重申盈利目标</h2>
</div><p>Hsieh said the company remains focused on returning to consistent profitability regardless of rate movements, though he said falling rates would shorten the timeline. He said loanDepot plans to continue investing in customer acquisition, origination capacity, technology and artificial intelligence to improve efficiency and lower costs.</p>
<div class="lb-trans"><p>谢表示，公司仍然专注于无论利率变动如何都能恢复持续盈利，尽管他说利率下降将缩短时间表。他表示，loanDepot 计划继续投资于客户获取、发放能力、技术和人工智能，以提高效率并降低成本。</p>
</div><p>In response to a question from Citizens JMP analyst Mikhail Goberman about whether a substantial decline in mortgage rates is needed for earnings to improve, Hsieh said the company would benefit from a lower 10-year yield but remains “quite bullish” based on progress in market share, top-line growth and marketing efficiency.</p>
<div class="lb-trans"><p>针对 Citizens JMP 分析师 Mikhail Goberman 关于是否需要大幅下降的抵押贷款利率才能改善盈利的提问，谢表示公司将受益于较低的 10 年期收益率，但基于市场份额、收入增长和营销效率的进展，仍然 “相当看好”。</p>
</div><p>Hayes also addressed a question about upcoming debt maturities, saying management and the board are actively engaged and discussing strategies with bankers. He said the company hopes to have a resolution “in the coming months,” while noting that markets remain turbulent.</p>
<div class="lb-trans"><p>海耶斯还回答了关于即将到期债务的问题，表示管理层和董事会正在积极参与并与银行家讨论策略。他表示公司希望在 “未来几个月” 内达成解决方案，同时指出市场仍然动荡。</p>
</div><p>Hsieh closed the call by reiterating four objectives: investing in growth and infrastructure, becoming a more efficient mortgage banker, growing profitable market share and returning to profitability through origination growth, servicing portfolio expansion, higher recapture rates, brand investment and operating leverage.</p>
<div class="lb-trans"><p>谢在电话会议结束时重申了四个目标：投资于增长和基础设施，成为更高效的抵押贷款银行，扩大盈利市场份额，并通过发放增长、服务组合扩展、更高的回收率、品牌投资和运营杠杆实现盈利。</p>
</div><h2>About loanDepot NYSE: LDI</h2>
<div class="lb-trans"><h2>关于 loanDepot NYSE: LDI</h2>
</div><p>loanDepot, Inc NYSE: LDI is a leading non-bank consumer lender that provides a broad range of home and personal financing products through a digitally enabled platform. The company specializes in originating and servicing purchase and refinance mortgage loans, home equity lines of credit (HELOCs), and personal loans. Through its proprietary mello™ technology suite, loanDepot streamlines the application, underwriting, and closing processes for borrowers and real estate professionals, emphasizing speed, transparency, and a seamless digital experience.</p>
<div class="lb-trans"><p>loanDepot, Inc NYSE: LDI 是一家领先的非银行消费者贷款机构，通过数字化平台提供广泛的住房和个人融资产品。该公司专注于发放和服务购房和再融资抵押贷款、房屋净值信用额度（HELOCs）和个人贷款。通过其专有的 mello™技术套件，loanDepot 简化了借款人和房地产专业人士的申请、承保和结案流程，强调速度、透明度和无缝的数字体验。</p>
</div><p>Founded in 2010 by Anthony Hsieh, loanDepot has grown rapidly to become one of the largest independent mortgage lenders in the United States.</p>
<div class="lb-trans"><p>loanDepot 成立于 2010 年，由 Anthony Hsieh 创办，迅速成长为美国最大的独立抵押贷款机构之一。</p>
</div><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p>
<div class="lb-trans"><p><em>此即时新闻提醒由叙事科学技术和 MarketBeat 的金融数据生成，以便为读者提供最快的报道和公正的覆盖。如对本故事有任何问题或意见，请发送至 contact@marketbeat.com.</em></p>
</div><h2>Should You Invest $1,000 in loanDepot Right Now?</h2>
<div class="lb-trans"><h2>你现在应该投资$1,000 在 loanDepot 吗？</h2>
</div><p>Before you consider loanDepot, you'll want to hear this.</p>
<div class="lb-trans"><p>在考虑 loanDepot 之前，你需要听听这个。</p>
</div><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and loanDepot wasn't on the list.</p>
<div class="lb-trans"><p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐给客户的股票。MarketBeat 已识别出五只顶级分析师悄悄向客户推荐的股票，建议在更广泛的市场注意到之前购买……而 loanDepot 并不在名单上。</p>
</div><p>While loanDepot currently has a Strong Sell rating among analysts, top-rated analysts believe these five stocks are better buys.</p>
<div class="lb-trans"><p>虽然 loanDepot 目前在分析师中被评为强烈卖出，但顶级分析师认为这五只股票更值得购买。</p>
</div><p>View The Five Stocks Here</p>
<div class="lb-trans"><p>在这里查看这五只股票</p>
</div>

loanDepot 第一季度财报电话会议亮点