loanDepot: Movement Mortgage Poaching 'Crippled' Some Branches
Lender sues Movement, claiming it illegally lured away 25 employees in 6 states.
Lender sues Movement, claiming it illegally lured away 25 employees in 6 states.
Ruling determines loanDepot likely to succeed in trade secrets claims.
David Hayes succeeds Patrick Flanagan; LDI Digital president, accounting & human resources officers also leaving.
Former senior VP of production for West division steps into new role immediately.
Vision 2025 plan helped reduce loss to $91.7m; expense reductions included cutting 52% of staff.
Meeting expected to formalize settlement that expanded board; also files annual report showing it cut staff by 54% in 2022.
Company agrees to expand board and immediately add Hsieh's nominee for director, WFG CEO Steve Ozonian.