Frank Martell is joining loanDepot Inc.’s (LDI) management team as its new president and CEO, a newly created role within the firm. Martell has also been appointed to the LDI board of directors. In addition, LDI founder and chairman Anthony Hsieh has been named executive chairman of the company.
“From our beginning, as a de novo start up in 2010, we have always made bold and timely decisions,” says 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.”
Martell will drive daily operations and lead the company’s diversified multi-channel mortgage origination model, as well as the mello business unit which houses the company’s ancillary product and service groups, including mellohome, melloinsurance and mellotitle (CUSA / ACT).
“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,” states Frank 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.”
“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, 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. The team and I are energized by this announcement, and we look forward to working with Frank.”
Martell has over 30 years’ executive leadership experience in the marketing, financial services and business information industries. Most recently, Martell served as CEO of CoreLogic from March 2017 to January 2022 following his tenure as the company’s CFO and COO. Until October 2021, Martell also served on the board of directors of the Mortgage Bankers Association. In 2016, HousingWire recognized him with the “HousingWire Vanguard” award for his distinguished leadership in the housing industry. He was named as the 2013 Outstanding CFO of a Public Company in Orange County by the Orange County Business Journal.