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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUES:        
Interest income $ 71,020 $ 31,453 $ 187,625 $ 98,149
Interest expense (56,785) (29,553) (165,130) (88,881)
Net interest income 14,235 1,900 22,495 9,268
Gain on origination and sale of loans, net 821,275 1,251,141 2,647,328 2,767,140
Origination income, net 86,601 71,740 280,824 167,554
Servicing fee income 102,429 48,406 279,738 121,520
Changes in fair value of servicing rights, net (138,462) (29,313) (327,194) (109,817)
Other income 37,678 25,056 116,487 58,115
Total net revenues 923,756 1,368,930 3,019,678 3,013,780
EXPENSES:        
Personnel expense 449,152 441,818 1,523,012 1,022,734
Marketing and advertising expense 131,971 60,435 355,730 173,628
Direct origination expense 49,559 33,465 146,553 88,627
General and administrative expense 50,013 52,372 149,984 120,565
Occupancy expense 9,686 9,997 28,956 29,437
Depreciation and amortization 8,688 8,585 25,827 27,122
Subservicing expense 22,879 22,820 76,731 52,154
Other interest expense 22,823 10,522 57,261 32,117
Total expenses 744,771 640,014 2,364,054 1,546,384
Income before income taxes 178,985 728,916 655,624 1,467,396
Income taxes 24,708 567 47,210 1,457
Net income 154,277 728,349 608,414 1,465,939
Net income attributable to noncontrolling interests 102,802 728,349 503,503 1,465,939
Net income attributable to loanDepot, Inc. $ 51,475 $ 0 $ 104,911 $ 0
Earnings per share:        
Basic (in usd per share) $ 0.40   $ 0.82  
Diluted (in usd per share) $ 0.40   $ 0.82  
Weighted average shares outstanding:        
Basic (in shares) 130,297,565   127,941,331  
Diluted (in shares) 130,297,565   127,941,331