Middle East
Fortune struck for these Syrian migrants, but can they make it in California?

Fannie Mae

O.C. mortgage lender files for IPO

O.C. mortgage lender files for IPO

A fast-growing mortgage lender in Orange County that has quietly become one of the nation's biggest loan originators plans to go public.

Foothill Ranch firm LoanDepot on Thursday filed a registration statement with the Securities and Exchange Commission, reporting it plans to raise as much as $100 million in an initial public offering.

The company, founded in 2009, is a non-bank lender that originates loans and packages them into securities that are sold to investors. The vast majority of LoanDepot's loans are sold to Fannie Mae and Freddie Mac, or are backed by the Federal Housing Administration.

FHA loans, which are aimed at first-time home buyers, have become a...