Foundation, Novaprime’s Agentic OS for Post-Closing, connects teams across Government Insuring, CD Reconciliation, Defect Remediation, and Loan Delivery so closed loans can move quickly, with confidence.

Novaprime, the mortgage technology company helping lenders deliver higher-quality loans faster and at lower cost, today announced that loanDepot, Inc. (NYSE:LDI) (together with its subsidiaries, "loanDepot"), a national mortgage and home equity lender with $592B funded directly to consumers, is rolling out Novaprime’s Foundation Agentic OS across Post-Closing following a successful pilot that began earlier this year. Novaprime’s platform is expected to increase the speed of loan delivery and the quality of every closed loan while reducing the cost per loan.

Foundation connects the teams that handle a loan after it closes, across Collateral Review, Government Insuring, Defect Remediation, Loan Delivery, and more. It analyzes, validates, and tracks defects and remediation automatically, enabling each mortgage professional to complete loans at a significantly higher rate. Foundation works alongside the lender’s existing systems and adapts to the needs of each organization and individual team.

loanDepot’s pilot focused on Government Insuring as a first step, automating over 80% of tasks and allowing insurers to complete more loans each day. loanDepot is now rolling out Foundation across CD Reconciliation, Defect Remediation, and Loan Delivery, expecting to reduce the cost per loan and increase capacity while enabling their teams to apply their expertise to higher-level tasks.

"No two Post-Closing teams work the same way, even within the same lender, which is why we built Foundation to adapt dynamically to each team and measure its success on the quality and volume of work it helps each person to complete," said Linus Petrén, CEO & Founder of Novaprime. "loanDepot has been an exceptional partner. Individuals and the leadership team are intentional and genuinely invested in staying at the forefront of innovation, and they’ve made what is often a very complex change-management challenge a pleasure. We’re excited about this next chapter of collaboration as we expand the deployment."

Foundation is paired with Novaprime’s Loan Intelligence, which measures quality and throughput across every loan, team, and task in real time. Together, they are built towards one goal: enabling mortgage professionals to become 10x more efficient across their entire workload, while improving the quality of every loan and keeping a complete audit trail behind every decision.

"Government Insuring was a well-defined place to start. It’s deadline-driven, highly repetitive work, and most of the effort goes into confirming a file is complete," said loanDepot Senior Vice President Thomas Hutchinson, "The Novaprime team has delivered a robust solution that’s already had a positive impact on our Government Insuring turn times and we look forward to extending the partnership by deploying Foundation across several of our Post-Closing teams."

About loanDepot

Since its launch in 2010, loanDepot (NYSE:LDI) has revolutionized the mortgage industry with digital innovations that make transacting easier, faster, and less stressful for customers and originators alike. The company, which is licensed in all 50 states, helps its customers achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. loanDepot is also committed to serving the communities in which its team lives and works through a variety of local and national philanthropic efforts.

About Novaprime

Novaprime is a mortgage technology company that helps some of the nation's largest lenders with the work that happens after a loan closes. Using AI that adapts to how each team already works, Novaprime helps mortgage professionals deliver loans faster, at lower cost. Novaprime is SOC 2 Type II compliant, and its AI has been reviewed by independent auditors. For more information, visit novaprime.com.

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Media Contacts

Novaprime:

Rani Bemassi

media@novaprime.com

loanDepot:

Jonathan Fine

Vice President, Public Relations

jfine@loandepot.com

781-248-3963