LoanDepot Inc. said on Wednesday it received a deficiency notice from the New York Stock Exchange after its Class A common stock averaged below $1 per share over a 30-trading-day period.
Under NYSE rules, the Irvine, California-based mortgage lender has six months to restore its share price above the $1 threshold or face potential delisting. The company has ten business days to respond to the notice, issued as of the close of trading on Tuesday.
LoanDepot reported last quarter a 25% increase in unit volume growth, 18% revenue growth, and a 33% rise in purchase market share, according to CEO Anthony Hsieh. The company, which operates in all 50 states and was launched in 2010, emphasized operational efficiency improvements alongside volume gains.
The NYSE deficiency notice does not immediately restrict trading of loanDepot’s shares during the cure period. The company’s ongoing business operations and SEC reporting obligations remain unchanged, the statement said.
LoanDepot’s next annual meeting of stockholders is scheduled for early June 2027, where any required stockholder approval for actions such as a reverse stock split could be sought if needed to address the deficiency.
