LoanDepot Inc. (NYSE: LDI) announced key leadership moves today to strengthen its Consumer Direct Lending division.
Founding employee and Executive Vice President of Consumer Direct Lending Alex Madonna will focus on deploying emerging technologies such as artificial intelligence, along with modernized sales structures to drive scale and operating efficiency. He reports directly to Anthony Hsieh, who returned to the company as CEO earlier this year.
Regional sales leader Bill Goforth has been promoted to senior vice president of consumer Direct Lending Sales, where he will oversee loanDepot’s national sales force and spearhead efforts to build a best-in-class sales organization.
Hsieh, who has made several other executive moves since returning, said the latest changes bring the Consumer Direct Lending division into the next era at Irvine-based loanDepot, one of the nation’s largest non-bank providers of mortgages.
“Our Consumer Direct Lending channel has always been, and must continue to be, the driver of our competitive advantage,” Hsieh said in a statement. “Bill’s promotion enables Alex to return to the foundation of our organization, where he’ll focus on contemporary and emerging technologies, including AI and next-generation capabilities.”
Shares of loanDepot were down 3.5% to $2.83 with a market cap of $933 million.
