Frank Martell, who steered CoreLogic through its hostile takeover battle, has joined loanDepot in the newly created role of president and CEO.
Anthony Hsieh, loanDepot's founder and largest shareholder, remains with the company as its executive chairman.
Under the new division of duties, Hsieh will guide company strategy, while Martell runs the day-to-day operations of the mortgage origination business as well as
"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," Hsieh said in a press release. "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 is a serial entrepreneur in the mortgage industry, founding two companies, LoansDirect and Home Loan Center, prior to
Martell joined
But in June 2020, Cannae Holdings and Senator Investment Group
Approximately 10 months after completing the deal to go private,
"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," Hsieh said.