LoanDepot

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.