Business is booming.

loanDepot launches mello business unit

Company officials noted the diversification brought about by mello – a Greek word meaning “about to be” – is underscored by loanDepot’s ranks as the second-largest non-bank retail lender in the US as well as its position as a top five wholesale lender. The company also boasts of having one of the largest joint venture lending platforms. With the formation of this new business unit, LDI will shift specific proprietary, competitive-advantage assets into the mello division and, under Sidi’s leadership, including oversight of the company’s customer contact center, world-class mello DataMart and performance marketing engine which cultivates, ingests, and distributes over 10 million data-enriched leads annually and connects with more than one million customers daily, all within fractions of a second.

Under Sidi’s leadership, the mello business unit will develop digital-first secured and unsecured lending products leveraging loanDepot’s customer engagement channels, marketing assets, and proprietary technology stack. Officials added that the mello business unit will also house the company’s mortgage adjacent businesses such as mellohome Real Estate Services, melloinsurance, and mello title and escrow services (CUSA, ACT), offering customers a value-added suite of products and services brought together in a powerful platform.

Read next: loanDepot moves Ginnie Mae-funded loan servicing in-house

It was not lost on MPA that Sidi’s appointment coincides with Women’s History Month. Sidi’s ascension comes amid an industry that is still male-dominated, although great strides have been made in recent years.

“It’s a positive coincidence that this is happening in Women’s History Month,” she said. “I’m a big proponent of diversity in all forms because that’s what strengthens companies, and that’s really what will drive the next chapter across the industry. For me, this is a really exciting time to join a company that has always been an innovative company that believes in strengths based on diversity of thought and experience. And the chance to really work with a founder whose vision has been really central to digitizing and revolutionizing the industry,” she said.

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