California-based mortgage lender loanDepot (LDI) has made two additions to its sales leadership team.
On Wednesday, the company confirmed that Justin Andrews has been hired as the new area sales manager in the Seattle region. Andrews comes to loanDepot with 25 years of mortgage industry experience, including a recent stint as national director of branch partnerships at Movement Mortgage.
Andrews also previously worked in business development, sales and marketing roles at Hometown Lenders, Finance of America, Veristone Capital, Yarrow Bay Mortgage and Merit Financial. In his new position with loanDepot, he will be responsible for driving market share growth in Seattle and the surrounding areas.
“Justin is the poster child for servant leadership,“ loanDepot regional vice president Jeremy Bordner said in a prepared statement. “His ability to inspire and lead with confidence and clear direction will be an incredible addition to our rapidly growing Washington markets.”
In late April, Jeff Wilkish joined loanDepot after seven years at Movement Mortgage. Wilkish will serve as the company’s regional vice president for New England, overseeing sales activty in the states of Maine, Massachusetts, New Hampshire, Rhode Island and Vermont.
“In line with our Vision 2025 plan, we are continuously recruiting top talent,” loanDepot executive vice president John Bianchi said in a statement. “As we considered how to fill this critical leadership position, we looked for someone who is both an exceptional developer of originator talent, and also part of the fabric of New England.
“A native New Englander, Jeff fits the bill all around. He is deeply involved with the regional Realtor, builder and mortgage communities and has built an impressive, two-decade track record leading top-producing teams. One of his core strengths is helping his team to achieve their career best.“
Prior to his time at South Carolina-based Movement Mortgage, Wilkish held sales leadership positions at Primary Residential Mortgage, Guaranteed Rate and First Financial Mortgage.
“Since our acquisition of Mortgage Master in 2015, New England has been a critical market for loanDepot’s vision of the future,“ LDI Mortgage President Jeff Walsh added. “Jeff’s expertise and leadership will be invaluable as we continue to strengthen our position and grow in this critical market.”
loanDepot and Movement Mortgage are embroiled in an ongoing legal battle over allegations that Movement poached more than two dozen loan officers in late 2021 and early 2022. The lawsuit was filed in the U.S. District Court for the District of Delaware in June 2023 and the case is still in the discovery phase, according to court documents reviewed by HousingWire.
A spokesperson for Movement Mortgage did not immediately respond to a request for comment on the Andrews and Wilkish hirings.
loanDepot remained unprofitable in first-quarter 2024, announcing last month that it posted a non-GAAP adjusted net loss of $38 million from January through March. It lost $26.6 million in Q4 2023 and $59 million in Q1 2023. A portion of the Q1 2024 loss was tied to a January cyberattack that impacted the personal data of nearly 17 million customers.
