loanDepot Appoints Chief Financial Officer Jon Frojen
High-Growth Lending Technology Company Strengthens Executive Bench, Accelerating Efforts to Capture Market Share and Drive Expansion
Aug 6, 2014
Foothill Ranch, CA - August 06 2014
loanDepot, LLC, one of the nation's fastest growing non-bank lenders, today announced the appointment of Jon Frojen as chief financial officer for the company. Frojen will be responsible for leading all aspects of loanDepot's financial management across all company divisions including loanDepot.com, imortgage and LDWholesale.
"Jon's experience managing the finances of high-growth enterprises, raising capital, and leading acquisition strategy will be vital to the continued growth and expansion of loanDepot," said Anthony Hsieh, chief executive officer and chairman at loanDepot. "In the past year, loanDepot increased market share three-fold and funding volume by 60 percent while many other lenders exited the market. Jon shares our vision for the company and how we can best continue our strong growth trajectory. His expertise will complement our efforts underway to deliver a full-spectrum of non-bank consumer lending products. We're very pleased to welcome him to our team."
Since its inception in 2010, loanDepot has grown to more than 2,800 employees including 900+ licensed loan officers nationwide generating more than $1 billion in monthly direct to consumer fundings. The company currently operates four web loan production centers, more than 75 retail branch locations under the imortgage brand, and a growing wholesale lending division.
"I'm excited to join loanDepot at this favorable time for the company," said Frojen. "All the components for a future market leader are here: a visionary CEO, a seasoned management team, strong financial partners, and the opportunity to profitably increase market share as a consumer-direct lender. I'm looking forward to joining loanDepot's executive leadership and continuing to build upon their great success."
Frojen brings more than 20 years of executive leadership to loanDepot LLC in a broad range of financial service businesses including residential and commercial mortgage finance, consumer lending, small business lending, and wealth management. He most recently served as chief financial officer for Cetera Financial Group where he led acquisition strategy, corporate finance, and all financial functions for the company. Prior to joining Cetera, Frojen was managing director at Milestone Advisors, a financial services investment bank. Prior to that, Frojen served as senior vice president and chief financial officer at Indymac Commercial Lending Corp, as chief financial officer for ReMAE Mortgage Corporation, and vice president and treasurer for both Long Beach Mortgage Company and Avco Financial Services.
Frojen also spent more than 10 years in the banking industry, holding various senior management positions in commercial banking, corporate finance and capital markets for First Interstate Bank, Ltd. and Standard Chartered Bank. He received his bachelor's degree in economics at the University of California at Berkeley and his master's in business administration with an emphasis in finance from University of Southern California.
Launched in 2010, loanDepot LLC, is one of the nation's fastest growing non-bank lenders in the country with Retail, Consumer Direct, Wholesale, Affinity and Servicing operations. loanDepot LLC operates under the brand names of loanDepot.com, imortgage and LDWholesale, and maintains dual corporate headquarters in Foothill Ranch, CA and Plano, TX. loanDepot LLC is licensed in all 50 states, generates loan production from four web centers, employs 2,800 people that includes 900 licensed mortgage bankers, and operates 75+ imortgage branch locations across the nation. loanDepot is an approved seller and servicer for Fannie Mae, Freddie Mac and Ginnie Mae. loanDepot.com, LLC, NMLS # 174457 Learn more at loanDepot.com.
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