loanDepot, Inc.

number one on your telephone keypad. If you'd like to withdraw your question, again, press the star and one. 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 second quarter of 2025 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 -on-sale margin, strategies, capabilities, and financial performance. 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 their risks or other factors that are described in the risk factor 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 -to-company operating performance comparisons. For more details on these non-GAAP financial measures, including reconciliation to the most directly comparable gap measures, please refer to today's earnings release, which is available on our website at .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's founder and chief executive officer, Anthony Shea, and chief financial officer, David Hayes. They will provide an overview of our quarter as well as our financial and operational results and outlook. We are also joined by chief investment officer, Jeff DeGurion, and LDI Mortgage President, Jeff Walsh, to help answer your questions after our prepared remarks. And with that, I'll turn things over to Anthony to get us started, Anthony.

Well, thank you, Gerhard. I appreciate everyone joining us on the call today. I'm thrilled to take the helm of the company that I, along with so many members of the team built from the ground up. My immediate focus is to return to our roots and drive profitable market share growth and technology powered efficiency with the goal of returning to profitability. Before we dive in, I would like to take this opportunity to acknowledge LDI Mortgage President, Jeff Walsh. We have decided to retire from Loan Depot. His last day with the company will be September 5th. Over the last 12 years, Jeff has played a major role in the growth of the company, most recently leading our production channels. He's deeply admired by our salespeople and respected by everyone who's had the opportunity to work with him. On behalf of the company, I want to thank Jeff for everything he's done to propel our company forward and wish him many wonderful adventures in the next chapter of his life. Loan Depot has what I consider to be a truly unique set of assets, including our brand and marketing muscle, our servicing portfolio, our tech stack, and of course, our diversified multi-channel origination strategy. I'd like to focus for a moment on our direct lending channel, which has one of the few technology powered at scale models in the industry. It's the asset that powers our flywheel effect and creates a significant strategic advantage for us. It starts with our nationally recognized brand and marketing prowess at the top of the funnel, where we directly engage with our customers and quickly drive leads to our highly skilled salesforce. Our nationwide reach and a broad suite of products allow us to serve every aspect of the customer's financing needs. By retaining much of the servicing for the loans we originate, we not only create another consistent source of revenue for the company, but we continue to directly interact with our customers, strengthening our brand awareness and cementing their loyalty through exceptional customer care. It is this ongoing interaction with our customers, coupled with our advanced data analytics that allows us to capture customers for refinancing when interest rates change or new purchase mortgages as their housing needs change. All of what I just described results in high customer satisfaction and increased brand affinity, which drives our top tier recapture rates. This flywheel of powerful marketing, driving customer lead to our salespeople, providing them with a superior customer experience throughout their home ownership journey and creating opportunities to refinance them at no additional customer acquisition cost makes Loan Depot the partner of choice for their home ownership needs while driving profitability for the company. After spending the past five months digging deep into every aspect of the business, I know where my focus needs to be. Our industry is very large, but is highly fragmented. And as one of the very few companies with a nationally recognized brand, I believe Loan Depot has a strong foundation to increase lead generation, improve conversion rates and grow the top of the funnel. We need to return to growth, gaining profitable market share and penetrating new markets. And that needs to be powered by new technology and operating efficiencies. All of which I believe will position us to once again disrupt and redefine the industry. To accelerate the company's digital transformation and our goal of returning to market leadership. This week, we announced the addition of two mortgage technology trailblazers to our leadership team. Chief digital officer, Dominic Marchetti is responsible for leading the company's overall digital transformation and strategy. Dom is someone that I trust deeply, who has a proven track record of delivering next generation capabilities. And with whom I am completely aligned in how we think about the business. Among the many things that set him apart are his expansive knowledge, his incredible industry relationships and his ability to harness technology and innovation to build and run an exceptional mortgage business. Chief innovation officer, Sean DeGiulia is responsible for driving innovation throughout the loan manufacturing process across all channels. With a strong focus on the top of the funnel, there are very few who match the type of mortgage IQ Sean has, namely deep competitive knowledge. Big picture thinker combined with top tier coding talent and firsthand experience as an originator. These two brilliant and proven technology leaders bring a deep understanding of both the loan manufacturing process and the competitive landscape. And our trusted leaders who know how to build, inspire and deliver. I returned to the operating team on March 7th, became interim CEO on June 4th and was appointed by the board as Herman as CEO on July 27th. Since March, several initiatives are already in flight that move us towards our goals of profitable market share growth, technology driven operating efficiencies and our return to profitability. I look forward to sharing our progress again next quarter. With that, I will now turn the call over to Dave who will take us through our financial results in more detail, Dave.