Loandepot

Anthony Cher founded Lone Depot in 2010, right after the worst housing crash in American history. Most people ran from mortgages. Cher ran toward them. He had built and sold two mortgage companies before and knew the best time to start is when competitors are weak and talent is cheap. The timing worked brilliantly for a decade. Lone Depot became a top five retail lender. In 2020, origination volume passed $100 billion. Revenue hit $3.5 billion. Cher took the company public in 2021 at over $6 billion. The stock peaked within weeks.