loanDepot, LLC 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."