StockNews.AI
LDI
StockNews.AI
63 days

ONX X+ Mortgage, New Joint Venture Between loanDepot and Onx Homes, Now Serving Customers in Florida and Texas

1. loanDepot and Onx Homes formed market-expanding joint venture, ONX X+ Mortgage. 2. Kathryn McKissick appointed branch manager; brings 20 years of industry expertise. 3. Joint venture aims to enhance homebuying experience in Florida and Texas. 4. Focus on delivering seamless, tech-forward mortgage solutions for homebuyers. 5. Combined innovation may position LDI favorably in diverse homeowner markets.

6m saved
Insight
Article

FAQ

Why Bullish?

The joint venture expands LDI's market reach and aligns with industry growth. Historical mergers, like Wells Fargo acquiring Wachovia, similarly boosted their portfolios.

How important is it?

The leadership change and strategic partnership are critical to LDI's future growth potential in the housing market.

Why Long Term?

As the venture establishes itself, customer adoption and market penetration will drive sustained growth over years. Similar past ventures in real estate showed lasting benefits.

Related Companies

LGIWFCNVRPHM
-Company appoints mortgage and real estate veteran Kathryn McKissick as its leader SCOTTSDALE, Ariz.--(BUSINESS WIRE)--loanDepot, Inc. (NYSE: LDI) and Onx Homes, announced that their new joint venture, ONX X+ Mortgage, is now serving homebuyers in Florida and Texas. The partnership pairs Onx Homes’ innovative approach to homebuilding with loanDepot’s best-in-class lending platform to deliver a seamless, tech-forward mortgage experience for new construction homebuyers.“This joint venture brings together two outstanding companies that share the same values of innovation and customer excellence.”Share “With our joint venture now serving customers in Florida and Texas, we’re thrilled to continue our work transforming and streamlining the homebuying experience for our customers,” said Onx Homes Chief Operating Officer Ravi Bhat. “By bringing Onx’s groundbreaking design and construction model together with loanDepot’s unmatched lending expertise, we’re making it faster, easier, and more accessible for more families to achieve the dream of homeownership.” ONX X+ Mortgage has appointed mortgage industry veteran Kathryn McKissick as branch manager. With more than 20 years of experience spanning loan originations, processing, and management, McKissick most recently served as a loan consultant for loanDepot’s joint venture with LGI Homes, LGI Mortgage Solutions. She also previously supported homebuilders in a similar role as a builder loan consultant at loanDepot. Before entering the mortgage industry, she spent eight years as a licensed Realtor. In her new role, McKissick will lead the joint venture’s business growth and day-to-day operations, focused on delivering a smooth, streamlined financing experience for ONX X+ Mortgage customers. “Kathryn is a trusted and dynamic leader with the experience and insight needed to guide our new joint venture,” said loanDepot Executive Vice President of National Joint Ventures Dan Peña. “Her deep understanding of both the lending and new home construction businesses, paired with her commitment to customer-first service, makes her a natural choice to lead ONX X+ Mortgage.” “This joint venture brings together two outstanding companies that share the same values of innovation and customer excellence,” said McKissick. “I’ve always believed in the power of homeownership to change lives, and that belief has guided my entire career. I’m excited to lead this business and help make that experience even more meaningful for the customers we serve.” About loanDepot At loanDepot (NYSE: LDI), we know home means everything. That’s why we are on a mission to support homeowners with a suite of products and services that fuel the American Dream. Our portfolio of digital-first home purchase, home refinance and home equity lending products make homeownership more accessible, achievable, and rewarding, especially for the increasingly diverse communities of first-time homebuyers we serve. Headquartered in Southern California with local market offices nationwide, loanDepot and its sister real estate and home services company, mellohome, are dedicated to helping customers put down roots and bring dreams to life – all while building stronger communities and a better tomorrow. About Onx Homes Onx Homes is pioneering a new era of homes and neighborhoods. Founded in 2021 by construction experts, design thinkers, and technology leaders, it is committed to providing homeowners with the next generation of living spaces. With corporate and manufacturing facilities in Florida and Texas, Onx has already delivered a diverse portfolio of homes and has over 2,500 beautiful, resilient, and cost-efficient homes under development across Florida and Texas. Onx specializes in merging high-end design and leading technology to deliver the highest quality single-family homes and townhome communities. Leveraging its customer-centric approach and fully integrated construction capabilities, including innovative proprietary design and X⁺Construction™ technology, Onx builds the most resilient and cost-efficient homes, creating unique value for homeowners. More News From loanDepot, Inc.

Related News