LDI’s new mello operating unit will complement the company’s existing LoanDepot mortgage operations and services platform, recognized as one of the most diverse origination models in the industry today. This diversification is underscored by the company’s rank as the second largest non-bank retail lender in the country, as well as its position among the top five wholesale lenders. Additionally, loanDepot has one of the largest joint venture lending platforms available.
With the formation of this new business unit, LDI will transfer specific proprietary and competitively advantageous assets into the mello division and under the management of Sidi, including oversight of the company’s customer contact center, the class-leading Mello DataMart global and performance marketing engine that cultivates, ingests, and distributes across 10M data-enriched leads every year and connects with more than 1M customers daily, all in fractions of a second.
Under Sidi’s leadership, the mello business unit will develop innovative, digital-first secured and unsecured lending products by leveraging loanDepot’s diverse customer engagement channels, extensive performance marketing assets and technology stack. exclusive to provide customers with a fast and frictionless way to meet their financial needs. The mello business unit will also house the company’s mortgage-adjacent businesses, such as mellohome real estate services, melloinsurance and mello title and escrow services (CUSA, ACT), offering customers a range of products and services value-added together in a convenient format and powerful platform to simplify their homeownership journey.
“Customers want bundled options and appreciate that complementary homeownership products and services are readily available from a single source. We created the mello business unit because we believe that developing new products and services is important to the marketplace, which provides many homeowners with a unique opportunity to access this equity to invest in their home when considering remodeling or renovations, or consolidating debt and reducing debt. monthly payments in a rising rate and inflation environment,” Hsieh said. “Accelerating the delivery of several new products and services – beyond mortgage products – through our mello business to give consumers access to a full suite of digital homeownership products and services from a company they already know and trust.”
“Zeenat is a high-caliber leader with a proven track record in financial services and digital transformation. By moving some of our most important pieces of infrastructure under her leadership, including our performance marketing engine that generates 10M top of the funnel leads [annually]and our data-driven, scaled Customer Engagement Center who contacts 1.6M customers on a daily basis, we can combine our proprietary assets and our mortgage-adjacent businesses in powerful ways,” Hsieh continued. “Combined with our approximately 3,300 trained and licensed loan officers holding 23,000 state licenses – the second largest network of loan officers in the nation, in addition to our extensive network of mortgage brokers – and our investments increased in our proprietary technology assets under the leadership of the recently hired Chief Digital Officer, George Bradythese new mello products and services will create a flywheel effect, placing us in a distinct and unique position in the industry to create lifelong customers by meeting their financial needs holistically.”
Sidi is a widely respected leader at the forefront of financial services strategy powered by digital technologies. She joined SoFi in 2018 to grow and lead the mortgage lending business, before taking on the role of executive vice president and group head of lending. She joined Galileo Financial Technologies (a company acquired by SoFi in 2020) as Head of Enterprise Lending and Data to create the strategic assets to deliver a suite of financial services products to Galileo customers through a single platform. modern API-based form of payment. Previously, Sidi held significant leadership positions at Capital One, including Managing Director of the Digital Home Equity business, and at RBC in the US and Canada.
Sidi holds an MBA with Fuqua Scholar Distinction from duke universityholder of a Master of Science in Operations Research from Stanford Universityand a Bachelor of Science in Systems Analysis of the University of Miami.
“loanDepot is a pioneer and leader in digital financial services, supporting customers on their homeownership journey with market-leading capabilities,” said Sidi. “I am honored and delighted to join Anthony and the LoanDepot team. Together, we will build on LoanDepot’s already strong foundation and an exceptional set of differentiated assets to create a suite of innovative products and services, focused on digital, which complement the company’s leading mortgage packages and I look forward to working with the team to shape the trajectory of the mortgage industry, leveraging cutting-edge data and digital assets to deliver value and pleasure to customers.”
“mello is a Greek word that means ‘about to be’ and that’s our state of mind,” Hsieh said. “We will always innovate and stay on our toes to create value and accelerate at every turn. Adding talent like Zeenat to our already impressive leadership roster and creating a new business unit under his leadership to focus on transformation, by maximizing and expanding our proprietary and differentiated assets, we will ensure that we continue to define – and redefine – what is possible in our industry for decades to come.”
loanDepot (NYSE: LDI) is a digital commerce company committed to serving customers throughout the homeownership journey. Since its launch in 2010, LoanDepot has revolutionized the mortgage industry with a digital approach that makes it easier, faster and less stressful to buy or refinance a home. Today, as the nation’s second-largest retail mortgage lender, loanDepot enables customers to realize the American Dream of homeownership through a wide range of lending and real estate services that simplify one of the most more complex in life. With its headquarters at Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional and national philanthropic efforts.
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SOURCE LoanDepot, Inc.