loanDepot, Inc.

your question, press star 1 a second time. I would now like to turn the call over to Gerhard Erdely, Senior Vice President, Investor Relations. Please go ahead.

Good afternoon, everyone, and thank you for joining our year-end and fourth quarter 2024 earnings call. Before we begin, I would like to remind everyone that this conference call may include forward-looking statements regarding the company's operating and financial performance in future periods. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to guidance to our pull-through weighted rate lock volume, origination volume, pull-through weighted gain on sale margin, and expense trends. These statements are based on the company's current expectations and available information. Actual results for future periods may differ materially from these forward-looking statements due to risk, or other factors that are described in the risk factors section of our filings with the SEC. Our presentation today contains certain non-GAAP financial measures that we believe provide additional insight into analyzing and benchmarking the performance and value of our business and facilitating company-to-company operating performance comparisons. For more details on these non-GAAP financial measures, including reconciliation to the most directly comparable GAAP measures, Please refer to today's earnings release, which is available on our website at investors.loandepot.com. A webcast and a transcript of this call will be posted on our website after the conclusion of this call. On today's call, we have Loan Depot President and Chief Executive Officer Frank Martell and Chief Financial Officer Dave Hayes to provide an overview of our quarter as well as our financial and operational results, outlook, and to answer your questions. We are also joined by Chief Investment Officer Jeff DeGurian and LDI Mortgage President Jeff Walsh to help address any questions you might have after our prepared remarks. And with that, I'll turn things over to Frank to get us started. Frank?

Thank you, Gerhard. I appreciate everybody taking the time to join us on this call today. 2024 was a year of significant progress for Loan Depot, particularly with the completion of our Vision 2025 strategic program. Vision 2025 was born from the fires of one of the most significant contractions in the housing and mortgage markets in recent memory. As you may recall, total market originations fell nearly 50 percent from 2021 to 2022, led by refinance volumes falling almost 75 percent. The mortgage market continued to remain depressed in 2023 and 2024, with volumes approaching generational lows. The strategic imperatives of Vision 2025 served as our roadmap for successfully navigating this historic downturn. While a portion of Vision 2025 was focused on fundamentally resetting our cost structure and organization to better align with a much smaller market, the strategy also addressed important investments in people, process, product, and technology. I expect that these investments will enable Loan Depot to emerge from the market downturn a more efficient and durable company. The company's return to profitability during the third quarter marked the successful completion of Vision 2025. With the announcement of a new three-year plan, Project North Star, it is the logical time for me to make way for a new leader. We recently announced the details of the transition, which confirmed that I will step down as CEO and board member effective with our annual meeting of stockholders on June 4th. After the annual meeting, I will continue to support Loan Depot as an advisor to the board. During my remaining time with Loan Depot, I look forward to working tirelessly to support our founder and board chair, Anthony Shea, who has agreed to return to the company as executive chairman of Mortgage Originations, leading our origination, servicing, operations, and related activities. The successful completion of Vision 2025 was a critical step in the company's evolutions. I'd like to express my deepest appreciation for Team Loan Depot for all their hard work and effort over the past several years executing the plan. We have a truly exceptional team that approaches every single day with the goal of making the dream of homeownership a reality for our customers. As we look forward, we believe that we are positioned to accelerate revenue growth and continue our progress towards sustainable profitability as we pivot toward the next chapter in Loan Depot's story. The housing and mortgage markets remain challenged, no doubt, but they are substantial in size and hold many opportunities for Loan Depot to grow and to realize its strategic objectives. When the market inevitably recovers, I believe the company is well positioned to become the lender of choice for the American homeowner to buy, manage, and optimize their home ownership journey. In closing, I want to thank every member of Team Loan Depot, our critical business partners, and our board of directors for their support, without which, We could not have achieved the substantial critical progress the company has made over the past three years. With that, I will now turn the call over to Dave, who will take us through our financial results in more detail.