Karen Chang steps up to the position of chief of staff, while Samuel Frumkin was named the agency's executive secretary. Left to right: Karen Chang, Samuel Frumkin The Federal Housing Finance Agency announced the appointment of two leaders to elevated roles within the Washington-based regulator. "Responding to identified risks and continuing to effectively anticipate enterprise risks will be critical to position the Company for long-term growth and revenue generation," said loanDepot CEO Frank Martell. The company also recently announced the elimination of its wholesale channel. The moves come as the lender institutes several cutbacks, including numerous layoffs, in support of its restructuring plan called Vision 2025. Department of Housing and Urban Development Grassi has also worked at Celebrity Home Loans, Guaranteed Rate and the U.S. Also an expert in legal compliance and risk matters, Grassi previously held mortgage-industry leadership positions within both public and private sectors, including at Fannie Mae, where he was a senior attorney in multifamily and single-family business units. Grassi will oversee loanDepot's risk management program and governance policies, staying ahead of potential challenges that might hinder company operations. In his new role with loanDepot, Smallwood will be responsible for legal strategy while reducing risk.
Gregory Smallwood was appointed chief legal officer and corporate secretary, while Joseph Grassi steps in as chief risk officer.Ī compliance and regulatory expert in mortgage and financial services, Smallwood most recently served as general counsel and executive vice president at Caliber Home Loans, and previously held leadership roles at Bank of America, Morgan Stanley and Saxon Mortgage. Left to right: Gregory Smallwood, Joseph Grassi Lender and real estate services provider loanDepot recently announced the addition of Gregory Smallwood and Joseph Grassi to chief officer positions, as it aims to restructure operations.
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