LoanDepot Sign of the Top: IPO market is fizzling. Here's why that's good news.

``There is nothing wrong with the consumer loan business LoanDepot represents, but there was some debate about its valuation. The company is essentially a mortgage lender, but it trades at multiples closer to peer-to-peer lending platforms. Why was LoanDepot?'' -- As the IPO market usually is the leading edge of a credit bubble, it is interesting that it appears to have topped...