loanDepot founder and controlling shareholder Anthony Hsieh is returning to an operational role at the California-based mortgage lender and CEO Frank Martell is departing.

In an announcement made Thursday, loanDepot said Hsieh, the company’s chairman of the board, has returned as executive chairman of mortgage operations. Martell will step down from his current posts as of June 4 and transition to a board advisory role.

A company spokesperson declined HousingWire‘s request to comment on the leadership changes.

The company’s board will reportedly work with an executive search firm to find a new CEO. If a permanent CEO has not been details ⇒

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