Tag: frank martell
loanDepot Brass Get Big Payday While Employees Lose 401(k)
loanDepot Brass Are Getting A Big Pay Raises While Employees Lose 401(k)s. Are Company Executives Cashing Out Before The Company Implodes? It looks like the loanDepot brass are cashing in and sticking it to employees. In an email last week, CEO Frank Martell reminded staffers that in times like these, there are “no easy answers.”…
Is loanDepot Slowly Imploding?
Industry Insiders Ask, “Is loanDepot Slowly Imploding?” loanDepot Reduces Funding Capacity By $500M For The Second Time In Two Months Is loanDepot slowly imploding? It certainly looks that way and it appears management is trying to control the coming implosion. For the second time in two months, loanDepot is reducing its funding capacity by $500…
LoanDepot Is Closing It’s Wholesale Channel After $232M Loss
LoanDepot Is Closing It’s Wholesale Channel After Losing $232 Million In The Second Quarter California-based LoanDepot is closing its wholesale division amid plummeting origination volumes. The company is also seeing a widening of it’s financial losses in the second quarter. The decision to close the channel also reflects fierce competition in the broker space. It’s a…