loanDepot creates new joint venture with Farm Bureau Bank

loanDepot has created a new mortgage joint venture with Farm Bureau Bank, a federally chartered savings bank based in Reno, Nev.

The new joint venture, Farm Bureau Mortgage, is now available to over five million Farm Bureau members. Established in 1999, the bank offers a variety of products and operates in 45 states. Mortgage veteran Dominick Deorio will lead Farm Bureau Mortgage as president.

“Farm Bureau members will greatly benefit from this partnership,” Deorio said. “loanDepot is known for exceeding the expectations of customers at every step of the home loan process, and Farm Bureau Mortgage will ensure a level of excellence and care that Farm Bureau members expect.”

Farm Bureau Mortgage is the latest in loanDepot’s string of joint ventures. Last month, the Lake Forest, Calif.-headquartered company partnered with LGI Homes to form LGI Mortgage Solutions.

“As America’s lender, we are thrilled to create this unique partnership with Farm Bureau Bank,” said Dan Peña, executive vice president of national joint ventures for loanDepot. “Farm Bureau Bank is dedicated to serving the financial needs of rural Americans across the country and understands the unique lifestyle of its Farm Bureau members. loanDepot knows the importance of home and is equally committed to providing our customers the personalized service they desire as they navigate one of their most important life events – the purchase or refinance of their home.”

“Our goal has, and remains, to provide our members with an optimal banking experience,” said William Hileman, president and CEO of Farm Bureau Bank. “Farm Bureau Mortgage brings great value to our customers, and loanDepot’s technology ensures a seamless and straightforward transaction that will enable them to achieve their dreams of homeownership on their terms.”