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loanDepot makes more changes to C-suite

loanDepot continues to make changes to its top management as it navigates a sharp workforce reduction in a shrinking mortgage market.

The California-based mortgage lender announced on Wednesday it has hired Gregory Smallwood, former general counsel and executive vice president of Caliber Home Loans, to be chief legal officer and corporate secretary.

The announcement comes two days after the company named Joseph Grassi as its chief risk officer. Grassi is an industry veteran who spent two decades at Fannie Mae.

Smallwood will start immediately and report directly to Frank Martell, loanDepot’s CEO since April. He will oversee all aspects details ⇒

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