1. LoanDepot has agreed to a settlement with Jade Hsieh, allowing her to retain her 6.9% ownership in the organization. Following the settlement, LoanDepot has nominated Steve Ozonian to join the board. Ozonian is a previous president of Caruso Financial, where he led efforts in reorganization and corporate refinancing. He is also a veteran of the mortgage brokers and retail banking businesses.
2. LoanDepot is a Los Angeles based, technology-driven consumer lender. They focus on mortgages and unsecured consumer loans, and have become one of the nation’s leading non-bank lenders.
3. Jade Hsieh was an early investor in LoanDepot and has held an equity position since the founding in 2010. In response to the settlement agreement, Hsieh has agreed to not file, participate, aid or voluntarily assist any litigation related to LoanDepot. The settlement was reviewed and approved by the board of directors, who support the nomination of Steve Ozonian.
4. Steve Ozonian possesses an extensive background in business and finance, including expertise in real estate, mergers and acquisitions, and capital markets. He has helped form long-term partnerships and has created and implemented a variety of financing and restructuring strategies. Ozonian is a great addition to the Loandepot board, who will be able to tap into his expertise in the mortgage and brokering sector.
You can read this full article at: https://www.housingwire.com/articles/loandepot-settles-with-hsieh-nominates-steve-ozonian-to-the-board/(subscription required)
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