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Known as the architect of modern lending, Anthony Hsieh is a trailblazing disruptor whose prowess for market timing, innovation and diversification has enabled him to lead and revolutionize an industry. Over his three decades-long career, he has systematically discerned trends in consumer home buying and online behaviors that have enabled him to chart a new course for the contemporary mortgage lending journey.
While Anthony is best known as the Founder and CEO of loanDepot, he is an entrepreneur by nature, having founded and led loansdirect.com and HomeLoanCenter.com prior to their successful sales to E*Trade and IAC/Interactive, respectively. Each of these companies was known to be on the forefront of product and technological innovation, and notably, with regard to loansdirect.com, recognized as being one the world’s first online internet-based financial services companies.
In the eleven short years since Anthony launched loanDepot, the company has grown to become the second-largest nonbank retail-focused lender, and third largest retail-focused lender overall in the country, accelerating faster than almost any other at-scale modern lender in history. In a highly fragmented and competitive market landscape, loanDepot has funded over $350 billion since inception and serves over 30,000 customers a month. In a reflection of the company’s success, loanDepot became a publicly traded company on the New York Stock Exchange on February 11, 2021.
The company’s achievements are made possible thanks to Anthony’s vision and commitment—and his courage to disrupt the status quo. Anthony showed tremendous courage to launch the company in 2010; a time when both the industry and consumers faced tremendous headwinds. However, Anthony’s understanding of consumer needs and behavior, coupled with his unique experience and insight into technology and lending prevailed, quickly propelling loanDepot to funding 1,000 loans in a single month after less than one year in business.
In 2013, Anthony further bucked conventional wisdom and led loanDepot’s metamorphosis from a single-threaded direct-to-consumer powerhouse to one that also serves customers through incredibly successful local in-market and partnership (joint venture and wholesale) channels, notably becoming the only successful non-bank at-scale model of this type in the industry today.
This diversification philosophy, as well as Anthony’s belief in technology’s ability to transform an outdated industry, led to an overall reshuffling of the industry deck. In 2017 and 2019 respectively, Anthony conceived and introduced his proprietary mello® technology (whose name is aptly derived from the Greek phrase ‘about to be’) and the mello smartloan™– both of which have enabled loanDepot to further differentiate itself from traditional lenders, improve customer and originator experiences and increase overall loan fulfillment efficiencies.
Customers recognize and gravitate to the experiences and brands Anthony has built over time. Currently, loanDepot is the second-most recognized brand in the industry today and earns satisfaction scores on par with world-class brands like Apple and Square. In addition, Anthony continues to lead the loanDepot brand to new heights, having recently signed an exclusive rights agreement with Major League Baseball to become the league’s Official Mortgage Provider. Anthony also recently partnered with the Miami Marlins, led by CEO Derek Jeter, to establish the world-class Miami sports and entertainment venue, loanDepot park.
In addition to cultivating exceptional brand and customer experiences, Anthony has also created one of the most unique, rewarding employment cultures in America. Creating jobs for nearly 11,000 team members across the nation, Anthony’s entrepreneurial spirit permeates every corner of his company, creating an atmosphere of innovation, accountability, camaraderie and spirit to serve, proudly known as the ‘Team loanDepot’ all-in attitude.
Anthony also is a steward of the industry and takes his responsibility as an industry leader to heart. Anthony is frequently called upon to speak on industry issues across national news outlets and has provided industry keynote addresses and fireside chats at such notable events as the Mortgage Banking Association’s Annual Convention, LendIt China, LendIt USA, the Digital Mortgage Conference and the Digital Lending + Investing Conference. Known to be an authentic straight-shooter, Anthony also helped reinvent the way in which public figures and leaders utilize social media for direct connections and conversations with peers, constituents, employees and customers. In honor of these contributions and more, Anthony has been recognized as LendIt’s Fintech Executive of the Year (2018) and AREAA’s Person of the Year (2017).
Anthony takes great pride in serving communities across the nation. In 2020, Anthony led the donation of $3M to pandemic relief and has given countless hours to a cause near to his heart – serving America’s veteran heroes. In 2018, Anthony—one of the most successful, winningest competitive sportfishermen of all time—conceptualized War Heroes on Water (WHOW), a therapeutic sportfishing tournament designed to honor and heal combat-wounded veterans. Since inception, WHOW has assisted hundreds of veterans across the nation and raised over $1M to support ongoing therapeutic healing services. This year, Anthony is leading the WHOW team in efforts to host 100 veterans at the annual tournament and raise an additional $1M for veteran relief services.