While the revelation that online mortgage lender Sindeo was turning off the lights and shutting down was disappointing news in the Fintech space. But other online mortgage lenders continue to execute and grow. One of the most promising is loanDepot, the creation of CEO Anthony Hsieh, has become one of the top mortgage lenders in the US. Additionally, loanDepot has migrated into the personal loan space too challenging online consumer lenders like LendingClub. Hsieh is pretty active on LinkedIn and last week this popped into my feed;
“Ok so I need to brag a little. Despite rising rates and shrinking overall volumes. We set a company origination record yesterday with over 1400 new originations. Company energy and pride is at an all time high, our customer sat scores also at record levels. National branding campaign in full swing plus mello bringing smiles to the team across the country. Special company being born here and the momentum is just starting #unstoppable”
Pretty confident but after funding over $100 billion in loans, Hsieh has earned some props.
While loanDepot HQ is in Southern, California the Fintech firm has taken a hybrid approach by opening up 180+ brick and mortar operations. Today they employ more than 5400 employees and they appear to be hiring like crazy. So with multiple product lines and a growing number of services, loanDepot is growing like crazy and Hsieh is definitely doing some thing right.