With his launch of loanDepot’s Vision 2025 strategic plan in the summer of 2022, President and CEO Frank Martell has steered the company through a once-in-a-generation mortgage cycle. This included aligning the business to the realities of the current market while continuing to make strategic investments in people, platforms and programs, positioning loanDepot for future growth and continued industry leadership as the market returns.
Martell often says Team loanDepot is “the secret sauce” behind the company’s success. One of his biggest investments under Vision 2025 has been in people, optimizing the organizational structure and assembling an executive team of seasoned professionals both from within and outside the company. Key hires include an experienced CHRO to enhance the employee experience and maintain a thriving culture. In the first half of 2024, the company made significant moves, notably creating the “Success Shares” equity grant that turned all employees into shareholders and supported wealth creation opportunities. It has expanded employee benefits such as paid time off and parental leave and launched an Employee Relief Fund to help members of the team who are dealing with unexpected financial hardship.
Martell has also invested in profitable growth initiatives and critical business operating platforms to enhance both the customer and the originator experience. These include the melloNOW underwriting engine, which provides full conditional loan approval within minutes, an upgraded direct lending customer acquisition platform, and a transition to the cloud-based Empower LOS.
Martell’s strategic investments in people, technology and innovative solutions have not only strengthened loanDepot’s market position but also fostered a culture of excellence and continuous growth.
What’s the best piece of advice you’ve ever received?
Surround yourself with good and talented people who are willing to tell you the truth.
Name:
Frank Martell
Title:
President and CEO
Company Name:
loanDepot
