Lawsuit accuses LGI Homes, loanDepot of drawing renters into costly loans. Sales staff ran credit and pushed loans - all without a mortgage license, the suit claims A new class action accuses homebuilder LGI Homes and lender loanDepot of drawing renters in with low advertised payments, then disclosing the real cost only after buyers were committed. The suit was filed on July 29 in the US District Court for the Middle District of Florida. Two Florida homebuyers brought it, seeking to represent thousands of others across the state. It names three defendants: LGI Homes, loanDepot, and the two companies' jointly owned lender, LGI Mortgage Solutions. According to the filing, LGI blankets renter-heavy neighborhoods with ads promising a new home for as little as "$799/mo" and "NO Down Payment Required." When a shopper responds, the lawsuit says, LGI's sales staff run credit on the spot, discourage buyers from using their own agents and lenders, and press for a signature the same day. The advertised payment, the plaintiffs allege, leaves out taxes, insurance and homeowners' association dues - costs the suit says can raise the real monthly figure by 30% to 70%. For a mortgage audience, the central allegations sit at that sales desk. The plaintiffs claim LGI staff collect income and financial details on a "pre-qualification worksheet," pull buyers' credit, and tell them what they qualify for. That conduct, the filing argues, would make LGI an unlicensed mortgage loan originator under the Truth in Lending Act and the SAFE Act, and it points to the loan-originator rules in Regulation Z at 12 C.F.R. § 1026.36. LGI's salespeople, the suit alleges, hold no such licenses. This origination claim is pleaded against LGI alone, not against loanDepot. On financing, the lawsuit alleges LGI directs buyers toward loanDepot and the LGI Mortgage joint venture, formed in March 2021, and it quotes an internal goal of "a 90.0% capture rate." The plaintiffs allege that what they call the "Real Monthly Payment" reaches buyers in loan documents only after they sign a purchase agreement and pay a nonrefundable deposit. The two named buyers are offered in the filing as examples. One says LGI mailers quoted $1,900 a month; her payment, excluding HOA dues, was $2,418 in 2024, about 27% above the advertised figure, according to the filing. It reached $2,700 by 2026, which the suit attributes partly to her falling behind on payments and partly to a rise in home-insurance costs. Another buyer, a veteran, says he was told he could buy for $300,000 and was directed to loanDepot even though he wanted to weigh a likely cheaper Veterans Affairs loan. Much of the filing draws on an investigation by Hunterbrook Media, whose affiliated law firm is among the plaintiffs' counsel. The suit cites that work for the claim that LGI buyers faced foreclosure at roughly "four times the national average for comparable mortgage borrowers." It also quotes the company's chief executive describing LGI to staff as "really a sales and marketing company that sells houses." The plaintiffs raise four claims: Florida's deceptive and unfair trade practices act, fraud, and negligent misrepresentation against all three defendants, plus the Truth in Lending Act origination count against LGI. They seek damages the filing places above $5 million, along with disgorgement of profits, restitution and an order to stop the conduct. The allegations are unproven, and no court has ruled on any of the claims. Our daily newsletter is FREE and keeps you up to date with the world of mortgage. Please complete the form below and click on SIGN UP to receive daily e-newsletters from Mortgage Professional.

LGI Homes achieves prestigious Cal/OSHA Golden Gate Recognition for exemplary safety performance at Esplanade community. SAN JACINTO, Calif., June 09, 2026 (GLOBE NEWSWIRE) - LGI Homes, Inc. (NASDAQ: LGIH) is proud to announce that its operations at the Esplanade community, in San Jacinto, California, have officially been awarded the prestigious Golden Gate Recognition by the California Department of Industrial Relations' Cal/OSHA Consultation Service Branch. The Golden Gate Certificate is a distinguished honor presented to high-performing employers who proactively establish, implement, and maintain exceptionally effective Injury and Illness Prevention Programs (IIPP) and health and safety management protocols that have been audited to comply with regulatory baselines. The achievement underscores LGI Homes' company-wide dedication to maintaining elite-tier jobsite safety and an uncompromised corporate culture focused on employee and subcontractor well-being. The recognition followed an extensive, voluntary full-service safety and health consultation audit conducted on February 24, 2026, at the Esplanade community. Led by an expert Cal/OSHA Associate Safety Engineer, the jobsite survey involved a comprehensive evaluation of active framing operations, technical hazard surveys, and an in-depth review of safety programs. "I am proud of our community being recognized by Cal/OSHA through their Golden Gate program," said Mike Durham, Vice President of Operations. "This accomplishment represents our long-standing commitment to safety, which is tied directly to the quality of our homes." A central factor in securing the Golden Gate Recognition is LGI Homes' industry-leading safety record. Verification of official Cal/OSHA documentation confirmed that LGI Homes has maintained an extraordinary record of zero reportable workplace injuries or illnesses over the past five consecutive years within its monitored operations. "Partnering with Cal/OSHA is an important ingredient in homebuilding," added Senior Construction Manager Charles Elliott, who oversees homebuilding operations at Esplanade. "It not only helps reduce accidents but also sets a strong example for other builders in our field." Furthermore, LGI Homes' risk profile is underscored by its exceptional 2025 Experience Modification Rate (ExMod) of 0.76. An ExMod significantly below the industry standard baseline of 1.00 quantitatively validates that LGI Homes experiences substantially fewer and less severe workplace incidents compared to national and state averages within the homebuilding industry. By voluntarily partnering with the Cal/OSHA Consultation Service Branch, LGI Homes continues to demonstrate a proactive approach to corporate compliance, leveraging state-level industry experts to validate its safety cultures, field engineering standards, and administrative excellence. About LGI Homes Headquartered in The Woodlands, Texas, LGI Homes, Inc. is a pioneer in the homebuilding industry, successfully applying an innovative and systematic approach to the design, construction and sale of homes across 36 markets in 21 states. LGI Homes has closed over 80,000 homes since its founding in 2003 and has delivered profitable financial results every year. Nationally recognized for its quality construction and exceptional customer service, LGI Homes was named to Newsweek's list of the World's Most Trustworthy Companies. LGI Homes' commitment to excellence extends to its more than 1,000 employees, earning the Company numerous workplace awards at the local, state, and national level, including the Top Workplaces USA 2025 Award. For more information about LGI Homes and its unique operating model focused on making the dream of homeownership a reality for families across the nation, please visit the Company's website at www.lgihomes.com. MEDIA CONTACT: Rachel Eaton (281) 362-8998 ext. 2560

LGI Homes launches "Sunsational Summer Savings" National sales event. THE WOODLANDS, Texas, June 02, 2026 (GLOBE NEWSWIRE) - LGI Homes, Inc. (NASDAQ: LGIH) and its premium brand, Terrata Homes, have launched their nationwide "Sunsational Summer Savings" sales event. During the limited-time promotion, homebuyers can shop move-in ready homes and take advantage of up to $40,000 in savings on their new home purchase. "Our Sunsational Summer Savings event is designed to help buyers make the most of their move this summer with stylish, move-in ready homes, valuable included features and incredible limited-time savings," said Rachel Eaton, Chief Marketing Officer at LGI Homes. "Whether buyers are looking for an affordable new home or a luxury living experience, this event offers compelling opportunities to find the right home for their lifestyle." During this event, customers can also enjoy a full suite of kitchen appliances with the purchase of their brand-new home. Featuring products from respected brands, Whirlpool(R) and KitchenAid(R), customers can take advantage of these coveted appliance packages included with transparent prices. From thoughtfully designed floor plans to quality construction homes, upgraded interiors and desirable community amenities, both brands continue to offer buyers strong value and an exceptional homebuying experience across the country. Homebuyers shopping during the event can expect: * Exclusive interest rate incentives * Builder-paid closing costs * Included Whirlpool(R) or KitchenAid(R) kitchen appliances (*details vary by community) * Move-in ready homes, available now * Designer upgrades included * Communities located in desirable markets, nationwide Customers interested in learning more about the Sunsational Summer Savings event are encouraged to visit LGIHomes.com or TerrataHomes.com to schedule a tour. About LGI Homes Headquartered in The Woodlands, Texas, LGI Homes, Inc. is a pioneer in the homebuilding industry, successfully applying an innovative and systematic approach to the design, construction and sale of homes across 36 markets in 21 states. LGI Homes has closed over 80,000 homes since its founding in 2003 and has delivered profitable financial results every year. Nationally recognized for its quality construction and exceptional customer service, LGI Homes was named to Newsweek's list of the World's Most Trustworthy Companies. LGI Homes' commitment to excellence extends to its more than 1,000 employees, earning the Company numerous workplace awards at the local, state, and national level, including the Top Workplaces USA 2025 Award. For more information about LGI Homes and its unique operating model focused on making the dream of homeownership a reality for families across the nation, please visit the Company's website at www.lgihomes.com. MEDIA CONTACT: Rachel Eaton (281) 362-8998 ext. 2560