loanDepot’s founder Anthony Hsieh won his battle to nominate Steve Ozonian as a member of the lender’s board of directors. However, the two-month nomination dispute had its consequences: Hsieh was fired from the executive chairman […]
One day after Signature Bank collapsed, an affiliate of loanDepot moved $225 million of cash balances to a large money center bank, the mortgage company disclosed Wednesday morning. With the transfer, the lender said all […]
As expected, California-based mortgage lender loanDepot reported another unprofitable period in the fourth quarter of 2022, its third consecutive quarterly loss. The red ink resulted from declining mortgage production and came despite the company’s decision to exit […]
Beret Kechian, loanDepot’s top producer and branch manager, is joining a slew of mortgage loan originators who are cautiously optimistic about the mortgage landscape in 2023. Kechian – who was Scotsman Guide’s eighth top LO […]
loanDepot founder and chairman Anthony Hsieh has decided to use his majority voting power to unilaterally nominate Steven Ozonian for election to the board of directors, exposing a dispute with other board members, the company disclosed […]
About 25 people from loanDepot’s top producing team have joined boutique lender Revolution Mortgage to reunite with their former team lead. Roughly half of the team led by Stacy Chevalier, former area manager covering parts […]
Nonbank California lender loanDepot will start moving some of its backend operations to Black Knight‘s cloud-based version of the Empower loan origination system this year as the firm continues its efforts to cut costs. Black […]
Brian Covey, a high-profile vice president at loanDepot, is leaving the company after five years to join Revolution Mortgage, another direct-to-consumer retail mortgage lender which was founded in 2018. Covey, who announced the change Monday […]
In an email sent on Tuesday, loanDepot CEO Frank Martell reminded staffers that in times like these, there are “no easy answers.” “We must deal with the realities of our market, face the future with […]
Due to heavy financial losses and shrinking production, loanDepot has reduced its funding capacity by $1 billion, laid off thousands of workers and exited the wholesale lending business. But that hasn’t stopped the nonbank lender […]
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