loanDepot Promotes Viviana Abarca to Managing Director – Mortgage Lending Operations
loanDepot (NYSE: LDI) has promoted Viviana Abarca to Managing Director of Mortgage Lending Operations. Reporting to CEO Frank Martell, Abarca will join the Executive Committee and be based in the Phoenix-area hub. Abarca's promotion aligns with the Vision 2025 strategic plan, which focuses on transforming originations, investing in growth, right-sizing cost structures, and optimizing the organizational structure. Abarca brings over 11 years of leadership experience at loanDepot and aims to elevate operational capabilities for accelerated growth and stakeholder value. Martell emphasizes Abarca's role in enhancing automation and customer-facing tools.
- Viviana Abarca's promotion to Managing Director highlights internal talent development and stability.
- The Vision 2025 plan aims to transform loanDepot's originations business, driving purchase money transactions.
- Investment in growth initiatives and operational processes to support operating leverage and quality delivery.
- Focus on right-sizing cost structures to align with current and future market conditions.
- Optimization and simplification of organizational structure for better efficiency.
- Commitment to enhancing automation and developing new customer-facing tools.
- No specific financial metrics or performance improvements mentioned, raising questions on measurable impact.
- Potential risks associated with market conditions that require aggressive cost structure adjustments.
- The need for significant investment in automation and operational changes could imply higher short-term expenses.
loanDepot, Inc announced it has promoted Viviana Abarca (pictured) to the position of managing director of mortgage lending operations. (Photo: Business Wire)
Abarca is a seasoned mortgage professional who, over the past eleven years, has held a series of leadership positions with increasing responsibility at loanDepot. She most recently served as Executive Vice President of Lending Operations. In her new role, Abarca will be responsible for leading loanDepot’s loan processing, underwriting and closing operations.
Abarca’s promotion is in line with the Company’s previously announced Vision 2025 strategic plan, which focuses on four main areas: First, transforming our originations business to drive purchase money transactions with an expanded emphasis on purpose driven lending. Second, investing in profitable growth-generating initiatives and critical business operating platforms and processes to support operating leverage and best-in-class quality and delivery. Third, aggressively right sizing our cost structure to address current and future projected market conditions. And fourth, optimizing and simplifying our organizational structure.
“Building a world-class operations team is an integral part of our Vision 2025 strategic plan. I cannot think of anyone better than Viviana to take our operational capabilities to the next level in the coming years to support accelerated growth and durable stakeholder value creation. Viviana is a consummate professional with an exceptional ability to achieve challenging objectives in all business cycles. As we advance our Vision 2025 plan, under Viviana’s leadership in lending operations we will continue to invest in automation to drive operating leverage, develop new customer-facing tools and functionality, and implement operational and structural changes to optimize and streamline our operations and position loanDepot for long-term success,” said
Added Abarca, “We have a phenomenal team, a phenomenal platform, and an exciting opportunity to take our existing operational excellence to the next level. We will continue to strive to exceed the expectations of our customers and deliver a best-in-class experience to our origination partners. This is critical work that will support the growth and success of loanDepot as we pivot into the next cycle.”
About loanDepot
loanDepot (NYSE: LDI) is a leading provider of lending solutions that make the American dream of homeownership more accessible and achievable for all, especially the increasingly diverse communities of first-time homebuyers, through a broad suite of lending and real estate services that simplify one of life's most complex transactions. Since its launch in 2010, the company has been recognized as an innovator, using its industry-leading technology to deliver a superior customer experience. Our digital-first approach makes it easier, faster and less stressful to purchase or refinance a home. Today, as one of the largest non-bank lenders in the country, loanDepot and its mellohome operating unit offer an integrated platform of lending, loan servicing, real estate and home services that support customers along their entire homeownership journey. Headquartered in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240617927755/en/
Jonathan Fine
VP, Public Relations
(781) 248-3963
jfine@loandepot.com
Source: loanDepot, Inc.
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