Anthony Hsieh is back in the CEO role at loanDepot — the company he founded in 2010 — on a permanent basis. His focus will be on returning the mortgage lender to profitability and regaining market share, the company announced on Monday.
Hsieh stepped down as CEO in April 2022 and was succeeded by industry veteran Frank Martell. But following Martell’s departure on June 4 to join SmartRent Inc., Hsieh had been serving as the interim CEO.
When announcing Martell’s departure, loanDepot said the company’s board would work with an executive search firm to find a new CEO. Hsieh has also been chairman of the board since February 2021 and is the company’s controlling shareholder.
loanDepot said Hsieh’s strategic priorities include returning the company to profitability, gaining market share and leading its adoption of artificial intelligence.
Once the second-largest U.S. retail lender after growing at an average of 38% per year during its first decade, loanDepot has since contracted. According to Inside Mortgage Finance, loanDepot ranks as the 20th-largest U.S. mortgage lender with $10.9 billion in volume in the first half of this year.
The company posted a net loss of $40.7 million in the first quarter of 2025, a 43% improvement compared to a $71.5 million loss in Q1 2024. Origination volume rose to $5.2 billion, up 14% year over year.
“Above all, my focus is to drive profitable growth and regain the market share that we built in the first 12 years of our company. We will return to competing at the highest levels,” Hsieh said, emphasizing the need to adopt a “founder’s mentality” across the organization.
In a statement, loanDepot said Hsieh plans to add top-tier executive talent to his leadership team over the next 90 days. “We will return to competing at the highest levels,” he reiterated.
In terms of technology, Hsieh previously launched the company’s proprietary point-of-sale software, mello, in 2017. The company now aims to accelerate its adoption of artificial intelligence.
“The rapid acceleration of AI and its disruption of established operating models make this a unique moment in time for the company,” said Pam Patenaude, board member and chair of the nominating and governance committee
“Our most significant differentiator has always been our ability to disrupt and redefine the industry through our innovative use of technology,” Hsieh added. “Today, we return to those roots. The broad adoption of AI represents a paradigm shift, and we must be ready to capitalize on that opportunity.”
Hsieh’s compensation will not change in connection with his return to the CEO position.
Prior to founding loanDepot, he launched online lender Home Loan Center in 2002, which later merged with IAC’s LendingTree in 2004. In 1989, he acquired a mortgage brokerage and transformed it into LoansDirect.com.
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