Tag Archives: frank martell

LoanDepot hires new CFO and parts ways with 4 top managers

By | | Uncategorized
Comments Off on LoanDepot hires new CFO and parts ways with 4 top managers

CEO Frank Martell recruits former CoreLogic colleague David Hayes as losses pile up and mortgage originations hit another new low. Continue reading →

LoanDepot founder gets wish: Ozonian joins board after face-off

By | | Uncategorized
Comments Off on LoanDepot founder gets wish: Ozonian joins board after face-off

The settlement with loanDepot founder Anthony Hsieh ends a proxy fight that broke out in February after Hsieh was ousted as loanDepot’s executive chairman. Continue reading →

LoanDepot founder Anthony Hsieh determined to shake up board

By | | Uncategorized
Comments Off on LoanDepot founder Anthony Hsieh determined to shake up board

After being ousted as executive chair, Hsieh says he controls enough voting shares to install veteran real estate executive Steve Ozonian on the mortgage lender’s board of directors. Continue reading →

LoanDepot losses mount as company continues to shed workers

By | | Uncategorized
Comments Off on LoanDepot losses mount as company continues to shed workers

The beleaguered mortgage lender racks up a $610.4 million 2022 net loss despite cutting 6,100 jobs as rising mortgage rates cut into the company’s lucrative refinancing business. Continue reading →

LoanDepot founder Anthony Hsieh ousted as executive chairman

By | | Uncategorized
Comments Off on LoanDepot founder Anthony Hsieh ousted as executive chairman

The founder is in a spat with the board after nominating real estate veteran Steve Ozonian to serve on the floundering mortgage lender’s board of directors. Continue reading →

After cutting Q3 losses, loanDepot has sights set on breaking even

By | | Uncategorized
Comments Off on After cutting Q3 losses, loanDepot has sights set on breaking even

The troubled lender has shed 5,200 workers through layoffs and attrition and is instituting other cost-cutting measures aimed at trimming $400 million in annual expenses by the end of the year. Continue reading →

LoanDepot accelerating layoffs, exiting wholesale business

By | | Uncategorized
Comments Off on LoanDepot accelerating layoffs, exiting wholesale business

The lender plans to boost revenue by growing purchase loan business and loan servicing portfolio, with digital HELOC also in the works, according to a second-quarter earnings call. Continue reading →

LoanDepot to shed 4,800 workers in 2022 in bid to return to profitability

By | | Uncategorized
Comments Off on LoanDepot to shed 4,800 workers in 2022 in bid to return to profitability

Lender hopes to cut up to $400 million in annual expenses and become profitable by the end of 2022 after rising mortgage rates gut profitable refinancing business. Continue reading →