Analyst Summary: LoanDepot, Inc. reported its year-end and fourth quarter financial results for 2022. The company demonstrated its strong execution of its Vision 2025 Plan, which helped create a lower expense base while also investing in technology and expanded product offerings. The company had a net income of $91.5 million for the quarter, and $259.3 million for the year. Vision 2025 focuses on creating long-term shareholder value by creating an innovative, purpose-driven, and durable mortgage origination footprint focused on first-time homebuyers and serving diverse communities. CEO Frank Martell stated, "We believe that the mortgage market will remain challenged in 2023, and we must remain vigilant and respond quickly to unfavorable changes in the market." LoanDepot also made important and significant investments in its quality, delivery, compliance, and risk management capabilities in 2022, resulting in $129.5 million in savings. LoanDepot's recapture rate for 2022 was 12.16%. The company also rolled out a HELOC solution that gives homeowners a powerful option for accessing the equity they have built in a fast, easy, and efficient way without refinancing their low-cost first mortgage.