loanDepot shakes up retail and JV leadership after Hsieh’s comeback

loanDepot is making more leadership changes following the return of founder and majority stakeholder Anthony Hsieh as CEO. Tom Fiddler has been promoted to president of retail lending while Dan Peña will serve as president of partnership. 

John Bianchi, the executive vice president of retail production since 2019, will depart the company. These moves come on the heels of bringing back two technology leaders — Dominick Marchetti and Sean DeJulia — who helped develop the mello platform.

The California-based mortgage lender aims to return to profitability and regain market share. On Thursday, it reported a net loss of $25 million in the second quarter, a 38% improvement from the first quarter’s $41 million loss, which the company attributes to higher revenue and lower expenses.

Fiddler, who joined loanDepot in 2015 after leadership roles at American Home Mortgage, Countrywide and Prospect Mortgage, most recently served as senior vice president of production for the East division. 

Hsieh said that Fiddler “understands both retail sales and operations at the deepest levels,” while Fiddler pledged to return retail at loanDepot to “competing at the highest level.”

Peña, the head of loanDepot’s joint venture (JV) channel since 2015, will focus on growing the channel and expanding services for partners. Hsieh credited Peña with leading the channel through every market cycle and developing deep expertise in the homebuilder segment.

In February, loanDepot announced a partnership with Onx Homes to provide financing options for new-home buyers in Florida and Texas. In November 2024, it added Smith Douglas Homes, a top-50 homebuilder with a solid book of business in the Southern states, as a JV partner.