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Changes in the loanDepot C-Suite

Anthony Hsieh, new Executive Chairman of loanDepot with Frank Martell, loanDepot's new President and CEO

loanDepot Inc. has announced changes to its executive leadership team as Founder and Chairman Anthony Hsieh has been named Executive Chairman, while former CoreLogic CEO Frank Martell will join the company as President and CEO, a newly-created role within the firm.

As Executive Chairman, Hsieh will guide company strategy, while holding his position as Chairman of the Board and the company's largest shareholder. As President and CEO of loanDepot, Martell will drive daily operations and lead the company's multi-channel mortgage origination model, as well as the mello business unit. In addition, Martell has also been appointed to the LDI Board of Directors.

"From our beginning, as a de novo start up in 2010, we have always made bold and timely decisions," said Hsieh. "We built ourselves during a time when many other lenders were exiting the industry and grew to become a company that hundreds of thousands of customers rely upon each year. Across the industry, things are again changing, but in that, I see opportunity for loanDepot to continue to grow, add additional products and services and to gain additional market share. But, to do this, we must accelerate and recognize that, as the market contracts and consolidates, we must further digitize and provide an expanded product set and experience that meets the needs of our customers no matter where they are in their home buying and selling journey."

Hsieh founded loanDepot in 2010, serving in the dual role of Chairman and CEO for the past 12 years. Under his leadership, loanDepot employed nearly 10,000 team members, and introduced mello, the company's proprietary loan origination technology platform. During his tenure as CEO, Hsieh took the company public in February 2021.

"I am thrilled to be joining Anthony and team loanDepot, and lead a company that is a nimble and innovative market leader poised to capitalize on the significant opportunities that lie ahead of us," said Martell. "loanDepot's talented team, proprietary technology and scaled leading solutions across an intentionally diverse mix of channels put the company in a great position to deliver incredible value to our customers, employees and shareholders. I look forward to working with the team and building on the spirit of innovation and service that is the loanDepot DNA."

Martell has more than 30 years of executive leadership experience in the marketing, financial services, and business information industries. Martell has significant experience as a public company CEO and board director. Most recently, Martell served as CEO of CoreLogic from March 2017 to January 2022 following his tenure as the company’s CFO and COO. Until October 2021, Martell also served on the Board of Directors of the Mortgage Bankers Association (MBA).

"Given this, and after having guided loanDepot to the public markets through our IPO, I believe now is the right time for me to take an even more holistic strategic role with the company. Frank's appointment complements our existing management stack, and I believe that adding a transformative chief executive of his caliber will allow us to efficiently focus on our north star: serving customers the way they wish to be served across the entirety of their homeownership experience. The team and I are energized by this announcement, and we look forward to working with Frank."

About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.
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