loanDepot Names Karin Lockovitch as Executive Vice President and Chief Risk Officer

Rhea-AI Summary

loanDepot (NYSE: LDI) has appointed Karin Lockovitch as Executive Vice President and Chief Risk Officer, effective immediately. With extensive experience in risk management and compliance, Lockovitch will oversee enterprise risk management at the company. Previously, she served in senior risk roles at Bank of the West, Zions Bancorporation, and Ally Financial, among others. loanDepot has funded over $350 billion in mortgage loans since its inception and ranks as the second-largest retail nonbank lender in the U.S., emphasizing a commitment to customer service and risk management.

Positive

• Appointment of Karin Lockovitch as Chief Risk Officer, enhancing risk management capabilities.
• Lockovitch brings extensive experience from notable financial institutions, potentially strengthening company governance.
• loanDepot has funded over $350 billion in mortgage loans, positioning itself as a leading player in the market.

Negative

• None.

FOOTHILL RANCH, Calif., June 25, 2021 /PRNewswire/ -- loanDepot, Inc. (NYSE: LDI), (together with its subsidiaries, "loanDepot" or the "Company"), the innovative consumer lending and real estate services provider that is using its proprietary mello® technology to deliver best-in-class experiences to its customers, today announced that Karin Lockovitch has joined the Company as Executive Vice President, Chief Risk Officer. She will be responsible for all aspects of enterprise risk management.

"At loanDepot, we understand the importance of effective risk management to make certain that we continue to deliver our best-in-class experience to our customers, and Karin brings an extremely impressive track record and depth of experience in risk management and compliance," said Founder and Chief Executive Officer Anthony Hsieh. "As we continue to establish new products and services, Karin's knowledge and insight ensures that we advance our core principle of always doing what's right for our customers."

Lockovitch has a deep background in building and leading risk disciplines, having previously held the positions of Executive Vice President, Chief Compliance Officer for both Bank of the West/BNP Paribas and Zions Bancorporation, and Chief Compliance Officer for Consumer Banking at SunTrust. She was Senior Director of the Enterprise Risk program at Ally Financial; Chief Risk Officer at Target Bank; and held Chief Credit Officer and financial risk related roles at Lehman Brothers and American Express.

Most recently, Lockovitch served as a consultant and designated outsourced Chief Risk and Compliance Officer for a variety of financial technology and bank partners, including de novo banks, to support the design, development and maturity of their risk management frameworks. Lockovitch also served as an industry advisor for the Utah Center for Innovation in Financial Services and a senior advisor for the Hummingbird Regtech and Alliance for Regulation Innovation. She's a known thought leader in the risk management field, having contributed to industry related articles and whitepapers and been a guest speaker at many industry events on topics related to risk management, innovation and emerging trends in financial services, and the advancement of female leaders across the industry.

Lockovitch holds an M.B.A from the University of Utah and a B.A. from the University of Massachusetts and holds her Certified Regulatory Compliance Manager (CRCM), Certified Anti-Money Laundering Specialist (CAMS) and Certified Treasury Professional (CTP) certifications. She serves on the Board of Directors of the Girls Scouts of Utah, as a member of the American Heart Association's Women's Circle of Red and as a community ambassador for the Children's Justice Center of Utah.

About loanDepot:
loanDepot (NYSE: LDI) is a contemporary financial services company dedicated to delivering a best-in-class experience to its mortgage purchase and refinance customers. Launched in 2010, loanDepot offers a diversified network of retail and partner business channels, uniquely positioning it to serve a wide range of customers. Headquartered in Southern California, the Company has funded more than $350 billion in mortgage loans since its founding and currently ranks as the second largest retail nonbank lender and one of the leading retail mortgage lenders in the United States. Committed to serving the communities in which its team members live and work, loanDepot has donated millions of dollars to support a variety of local, regional and national philanthropic efforts, most recently giving more than $2.5 million to help with COVID-related efforts for first responders, healthcare workers, individuals and families nationwide. The Company also is a founding sponsor of War Heroes on Water, which supports ongoing therapeutic healing services for combat-wounded veterans nationwide.

Media Contact:
Rebecca Anderson
Strategic Communications and Public Relations
949.822-4024
rebeccaanderson@loandepot.com

Investor Contact:
Gerhard Erdelji
Investor Relations Officer
949.822.4074
gerdelji@loandepot.com

LDI-IR

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SOURCE loanDepot, Inc.

FAQ

Who is the new Chief Risk Officer of loanDepot?

Karin Lockovitch has been appointed as the new Chief Risk Officer.

What experience does Karin Lockovitch bring to loanDepot?

She has held senior risk management roles at institutions like Bank of the West, Zions Bancorporation, and Ally Financial.

How much has loanDepot funded in mortgage loans?

loanDepot has funded over $350 billion in mortgage loans since its founding.

What is loanDepot's rank among retail nonbank lenders?

loanDepot is the second largest retail nonbank lender in the United States.

What will Karin Lockovitch's role at loanDepot encompass?

She will be responsible for all aspects of enterprise risk management.