The moment has finally arrived: California-based lender loanDepot has filed an updated S-1 with the Securities and Exchanges Commission and plans to go public in 2021.

The company, founded by billionaire entrepreneur Anthony Hsieh, said Monday that its affiliate loanDepot Inc. had confidentially filed paperwork, but it hasn’t determined how much stock will be sold or at what price.

In September, Bloomberg reported that loanDepot, which operates in retail, wholesale and correspondent channels, was eyeing an IPO that would see it valued at between $12 billion and $15 billion.

LoanDepot, backed by private equity firm Parthenon Capital Partners, first announced plans to go public in September 2015 but canceled the IPO just hours before pricing, citing adverse “market conditions.” At the time, LoanDepot had sought a market value of $2.4 billion to $2.6 billion.

In March 2017, the company revived plans for an IPO but didn’t follow through.

The updated S-1 hadn’t posted on the SEC’s portal as of 5:45 p.m. EST.

As of November, loanDepot was the nation’s eighth-largest originator and the 31st largest servicer, according to Inside Mortgage Finance.

LoanDepot’s debut comes during an astonishing period of IPOs for the mortgage industry. Margins are at cyclical highs, typically over 250 basis points, and virtually every independent mortgage bank has posted record profits over the last year.

Rocket Companies and Guild Holdings made their debuts in 2020, and 2021 could see United Wholesale Mortgage, Caliber Home Loans, Homepoint, Finance of America, AmeriHome, Better.com, Guaranteed Rate/Stearns, and SoFi all go public.

LoanDepot will trade under the ticker symbol “LDI,” the company said Monday.

The company recently announced a joint venture partnership with Canadian developer Brookfield. It also has a JV partnership with AV Homes, MTH Mortgage, MSC Mortgage, Tri Pointe Connect, Polygon Mortgage and LGI Homes.

Goldman Sachs, BofA Securities, Credit Suisse and Morgan Stanley are acting as lead book-running managers for the proposed offering. Barclays, Citigroup, Jefferies and UBS Investment Bank will be book running managers, and JMP Securities, NomuraPiper SandlerRaymond James & Associates, Inc. and William Blair will act as co-managers for the proposed offering.

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