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LoanDepot CEO to Step Down in June

Mortgage originator starts search for new leader

Irvine-based loanDepot, Inc., one of the nation’s largest non-bank providers of mortgages, announced Frank Martell will step down as chief executive, effective June 4 at the company’s annual stockholder meeting.

The Board plans to engage an executive search firm to conduct a CEO search during Martell’s transition period. If a permanent CEO has not been appointed by the time Martell’s resignation is effective on June 4, founder Anthony Hsieh will serve as interim CEO until a new CEO is appointed.

“It has been my distinct privilege to be part of Team loanDepot for the past three years and to lead the company through such an unprecedented and challenging market cycle,” Martell said in a statement. “Now is the right time to welcome a new CEO for loanDepot’s next chapter. I look forward to the company’s future success as a big fan of Team loanDepot and a significant shareholder.”

Shares of loanDepot were little change after the announcement at $1.80 each and a $585 million market cap (NYSE: LDI).

LoanDepot is scheduled to release its fourth-quarter results on March 11 after the market closes.

For more details, see the March 17 issue of the Business Journal.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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