loanDepot promotes executives to lead retail and partnership lending

IRVINE, Calif. - loanDepot, Inc. (NYSE:LDI), a $574 million market cap mortgage lender, announced Friday the promotion of two executives to newly created leadership positions as part of its strategy to drive growth and return to profitability. The company, which generated $1.09 billion in revenue over the last twelve months, has shown strong stock performance recently despite broader financial challenges according to InvestingPro data.

Tom Fiddler has been appointed President of Retail Lending, where he will oversee all retail loan production operations. He will assume responsibilities previously held by Executive Vice President of Retail Production John Bianchi, who is leaving the company.

Dan Peña, currently Executive Vice President of National Joint Ventures, has been promoted to President of Partnership Lending, where he will focus on expanding services offered to partners and growing the channel.

Fiddler brings nearly four decades of mortgage industry experience to his new role. He joined loanDepot in 2015 after holding leadership positions at American Home Mortgage, Countrywide, and Prospect Mortgage. Most recently, he served as Senior Vice President of Production for the East Division.

Peña, who has three decades of industry experience, has led loanDepot’s joint venture channel since 2015. In his expanded role, he will focus on strengthening existing partnerships and developing new opportunities, particularly in the builder segment.

CEO Anthony Hsieh expressed confidence in both executives, noting Fiddler’s ability to create "a culture where high performers thrive" and Peña’s skills as "a strategist, a relationship builder, and a creative problem solver."

The leadership changes come as loanDepot works to improve its market position in the mortgage industry. The company, founded in 2010, is licensed in all 50 states and offers a range of lending and real estate services. InvestingPro analysis reveals the company faces significant challenges, with a WEAK Financial Health Score and negative free cash flow, though the stock has shown resilience with positive returns over the past three months. Investors seeking deeper insights can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which provides detailed analysis of loanDepot’s financial position and growth prospects.

This information is based on a press release statement from the company.

In other recent news, loanDepot, Inc. has made significant strides with the successful completion of a $200 million secured note offering. The notes, issued by loanDepot’s subsidiary, are backed by mortgage servicing rights and are set to mature in 2030, with an option to extend to 2032. This capital will be used to redeem existing notes maturing in 2025. Additionally, Anthony Hsieh, the founder of loanDepot, has been appointed as the permanent Chief Executive Officer after serving as interim CEO since June 2025. The board highlighted Hsieh’s innovative approach and adaptability to industry changes, particularly with the rise of artificial intelligence. This leadership change follows the departure of former CEO Frank Martell, who has transitioned to SmartRent Inc. as their new CEO. Meanwhile, loanDepot’s stock experienced a modest rise following the announcement of Hsieh’s appointment. These developments come amid broader industry movements, as homebuilder and mortgage stocks have recently surged due to expectations of Federal Reserve interest rate cuts.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.