General World News

LoanDepot restructuring creates new digital products/services unit

Nonbank heavyweight loanDepot announced on Thursday an operational restructuring with the creation of a new business division called mello, under the leadership of the digital technology veteran Zeenat Sidi. 

The California-based lender plans to use mello to boost the development of innovative products and services in a market that has gotten ultra-competitive, with power buyers, real estate brokerage, mortgage lenders and fintechs all vying to create an end-to-end platform. 

Mello’s unit, which shares the name of the software platform loanDepot launched in 2017, will operate side-by-side with the company’s mortgage origination and servicing details ⇒

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