Although having played a leading role during the unveiling of the loan depositis new $ 100 million facility Less than three weeks ago, Chad Smith is now the head of direct loans at LoanDepot.
The reason for Smith’s departure is unknown, as are the company’s plans to replace him. When asked about Smith’s departure by HousingWire, the company simply confirmed that Smith was no longer with the company.
Whatever the reason, it’s a little surprising to see Smith leave LoanDepot.
When the company deployed his new mello “Innovation Lab” in March, Smith was right alongside CEO Anthony Hsieh on the main stage (as seen in the YouTube video below), discussing the work that helped develop the new corporate headquarters. mello, LoanDepot’s ambitious plan disrupt the home buying process and position the lender as a business capable of handling the entire real estate transaction.
Smith has led the direct division for the past nine months, having been promoted by Hsieh himself in July 2017. The moment that Smith was named president of direct loans was filmed and published on the LoanDepot Facebook page.
In the video, Hsieh praises Smith and says the two have known each other for 15 years.
Smith came to LoanDepot at 2015 as executive vice president of production, direct loans.
At the time, the company said Smith would lead a business production team of more than 600 licensed loan officers under the LoanDepot.com brand from the company’s four national web business centers in Arizona, California, Texas. and in Tennessee.
While serving as executive vice president of production and direct lending, Smith was appointed one of the HousingWire Magazine Vanguard Award Winners in 2016, an award reserved for real leaders in the housing industry.
Smith came to lend Depot of Find out about mortgage loans, which was closed back in 2015.
At Discover Home Loans, Smith oversaw all mortgage loan production. Earlier in his career, Smith was senior vice president of production at Loans, having served as both vice president and director of home equity.
As president of direct loans at LoanDepot, Smith led a team of more than 1,000 employees, according to Smith’s now-deleted company bio, accessible via a version cached by Google.
When trying to access Smith’s biography now, a “404” error page appears instead.