loanDepot has named Founder and Chairman Anthony Hsieh as its new Executive Chairman, while industry leader Frank Martell joins as President and CEO, a newly-created role, the company announced.
Martell has also been appointed to the Board of Directors.
As President and CEO, Martell will handle daily operations, while Hsieh will guide company strategy and add to Martell’s overall leadership. loanDepot’s executive management team will report to Martell.
“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.”
“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… The team and I are energized by this announcement, and we look forward to working with Frank.”
“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.”
Hsieh founded loanDepot in 2010 and has served as Chairman and CEO for the last 12 years. During his tenure, loanDepot became the second-largest non-bank lender in the U.S.
Martell brings more than 30 years of executive leadership experience in the marketing, financial services, and business information industries. He is recognized for his leadership in the real estate industry and has significant experience as CEO and board director of public companies. Prior to loanDepot, he served as CEO of CoreLogic, and has served on the board of directors for the Mortgage Bankers Association.