LoanDepot Tabs Founder Hsieh as Executive Chairman
The nation’s second largest non-bank mortgage lender has announced changes at the top, as loanDepot Inc. appoints founder and Chief Executive Anthony Hsieh as Executive Chairman. In addition, Frank Martell has been named the new CEO and president of the Lake Forest, CA-based company.
As Executive Chairman, Hsieh will guide company strategy, while maintaining his position as chairman of the board. He is also the company’s largest shareholder. Martell, meanwhile, will manage daily operations as well as loanDepot’s mortgage origination model. He will also direct the company’s management team.
LoanDepot has had a rollercoaster ride in its first year as a publicly-traded company. After shares jumped at the outset, the stock price has steadily declined as the increase in interest rates has slowed sales.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.