loanDepot Makes Executive Changes and Streamlines Organization

As part of its previously announced Vision 2025 plan, loanDepot, Inc. (NYSE: LDI) (together with its subsidiaries, "loanDepot" or the "Company") today announced organizational changes expected to improve operational efficiency, simplify the company’s leadership structure, and move certain key executive leadership positions to its Orange County, Calif. headquarters.

David Hayes, a senior finance executive with over 25 years of financial management, treasury, corporate finance, and mortgage industry experience, has been appointed Chief Financial Officer, effective June 26, 2023. Hayes, who will be based out of the company’s headquarters in Irvine, will be responsible for managing loanDepot’s financial functions, including its accounting, treasury, tax, corporate finance, and investor and lender relations activities. He joins loanDepot from CoreLogic, Inc., where he most recently served as Executive, Finance and Treasurer. Hayes succeeds Patrick Flanagan, who will be departing the company after a transition period.

loanDepot will also consolidate LDI Digital (including mellohome) into its existing production channels, under the leadership of LDI Mortgage President Jeff Walsh. This action is expected to further integrate the company’s digital products and unify its customer offerings. As a result of this organizational change, LDI Digital President Zeenat Sidi will be transitioning out of the organization.

In addition, the company will further streamline its management structure with the departures of Chief Accounting Officer Nicole Carrillo and Chief Human Resources Officer Kevin Tackaberry, who each will be leaving after a transition period.

“As we continue to advance our Vision 2025 plan, we expect to drive automation and operating leverage and invest in customer-facing tools and solutions, as well as implement operational and structural changes to optimize and streamline our business and position loanDepot for long-term growth and success,” said President and Chief Executive Officer Frank Martell.

“We welcome David Hayes to Team loanDepot as our new Chief Financial Officer. David brings a combination of strong leadership and deep mortgage industry knowledge to loanDepot. David is a consummate professional with significant financial leadership experience in our sector, and I look forward to partnering with him as we continue to execute our Vision 2025 plan.