LoanDepot

Company leaders said current strategy sets it up to profit and compete against its rivals as the mortgage market improves in the coming months.

The lender and servicer, which posted stronger originations, suggested more efficient production with improvements including renegotiated vendor contracts.

Dominick Marchetti and Sean DeJulia, former Loandepot executives who helped develop the company's mello platform, are returning as chief digital officer and chief innovation officer, respectively.

When customers accepted lower rates, the lender drastically slashed its originators' compensation or cut it altogether, the lawsuit claims.

The Irvine, California-based firm had a net loss of $40.7 million in the first quarter of 2025, a rebound from a net loss of $67.5 million in the previous period.

The Irvine, California-based firm reported a net loss of $67.5 million in the fourth quarter.

Hsieh stepped down from a day-to-day operational role following a contentious proxy battle for board leadership in 2023 but remained a director.

Loandepot rolled out Project North Star, an initiative designed to position the company as "the leading lending partner of choice for homeowners."

The Mortgage Bankers Association finds a chief financial officer, Two Harbors welcomes servicing executives and Assurance Financial taps industry veteran for new C-suite position.

10-Q filings with the SEC reveal additional information regarding the financial wherewithal of public mortgage lenders in the second quarter.

While the company made headway in reducing operational costs, it incurred several million dollars worth of expenses as it dealt with the January incident.

The lender and servicer is still in the red but trimmed its expenses, and overall losses, significantly in 2023.

The case is the second filing in West Virginia this year involving similar fees, as courts and regulators nationwide look to crack down on the servicing practice.

Also, lenders Click n' Close, Lower add c-level executives, Southern Bancorp embarks on expansion of mortgage division and Formfree finds new director of marketing.

The lender and servicer is still planning for another $120 million in annualized expense reductions in the next few quarters.

Also, Appraisal Institute appoints new CEO, Common Securitization Solutions names technology officer and two new lenders move into reverse mortgage.

The lender and servicer posted its highest pull-through weighted gain-on-sale margin in almost two years while recording modest production growth.

Also, Cenlar welcomes client management leader, NFM promotes influencer-marketing executive and Guzzo & Co. hires transgender chief operations officer.

The changes bring in a chief financial officer from CEO Frank Martell's former company, CoreLogic, while removing four execs with ties to founder Anthony Hsieh.

The country's third-largest originator saw revenue tick up in the first quarter off of higher servicing income and more pull-through weighted rate lock volume from lower average interest rates, it said.