loanDepot

Foothill Ranch, United States

loanDepot is a leading mortgage lender that provides a variety of home loan options to help customers finance their homes. The company aims to simplify the mortgage process through technology and personalized customer service.

CCI Score

-11.19

0.01% June 16

Latest Event

Leadership Return at loanDepot After Proxy Battle

Following a dramatic proxy fight that led to former CEO Frank Martell’s departure and internal power struggles, Anthony Hsieh returns to a key leadership role at loanDepot, now serving as Executive Chairman of Mortgage Originations and potentially interim CEO. The event reflects a significant corporate governance turnaround and a move toward more accountable leadership.

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ENABLER

loanDepot is currently rated as an Enabler.

-10 to -19 CCI Score

Companies in this segment facilitate authoritarian practices while claiming neutrality. They provide resources or support that indirectly bolster oppressive regimes, thereby undermining democratic accountability without overtly endorsing the regime.

Latest Events

MAR

07

2025

Leadership Return at loanDepot After Proxy Battle
19.45

Following a dramatic proxy fight that led to former CEO Frank Martell’s departure and internal power struggles, Anthony Hsieh returns to a key leadership role at loanDepot, now serving as Executive Chairman of Mortgage Originations and potentially interim CEO. The event reflects a significant corporate governance turnaround and a move toward more accountable leadership.
+20

Executive Political Engagement

June 16

Despite the turbulent internal conflict marked by Hsieh’s earlier forced ouster via a proxy battle, his return is interpreted as a commitment to restoring democratic principles in corporate governance. Reversing prior authoritarian maneuvers—such as attempting to unilaterally force board nominations—this leadership change is a positive signal towards greater accountability and shareholder representation, aligning with anti‐fascist values.

Anthony Hsieh Returns To loanDepot Leadership After Proxy Battle
APR

08

2024

Settlement of Appraisal Discrimination Lawsuit
35.51

loanDepot reached a settlement in a racial discrimination lawsuit, agreeing to extensive changes in its appraisal policies and an undisclosed monetary compensation to affected parties.
+40

Business Practices and Ethical Responsibility

June 16

loanDepot's settlement in the racial discrimination lawsuit, which mandated extensive changes to its appraisal policies and compensation for plaintiffs, represents a corrective action aimed at addressing unethical business practices. While the lawsuit highlights past discriminatory behaviors, the policy reforms contribute to advancing fair practices and anti-racist efforts, aligning with progressive values.

loanDepot Settles Appraisal Discrimination Lawsuit
MAR

22

2024

Settles Racial Bias Lawsuit and Commits to Fair Lending Reforms
26.51

loanDepot settled a lawsuit filed by a Maryland-based couple alleging discriminatory appraisal practices that undervalued their home. As part of the settlement, the company agreed to pay undisclosed damages and implement reforms including enhanced training for appraisers, improved appraisal policies, and measures to ensure fair lending practices.
+30

Business Practices and Ethical Responsibility

June 16

The settlement addresses a serious allegation of racial bias, a form of institutional discrimination that undermines ethical business practices. Although the lawsuit highlights past discriminatory practices, loanDepot’s commitment to reform appraisal procedures and increase training to ensure fair lending protections is a corrective measure that supports marginalized groups. This commitment is viewed positively from an anti-fascist, human rights perspective.

LoanDepot and Maryland couple settle racial bias suit
JAN

09

2023

Labor Violations Lawsuit Filed Against loanDepot
-62.70

Former California employees have filed a lawsuit against loanDepot alleging violations of state labor laws, including failure to pay minimum and overtime wages and provide meal and rest periods. This lawsuit comes on the heels of significant layoffs and the suspension of the 401K match program as cost-cutting measures in a shrinking mortgage market, despite the CEO’s claims of fair and compassionate treatment.
-80

Labor Relations and Human Rights Practices

June 16

The lawsuit alleges serious labor violations including non-payment of minimum and overtime wages, and failure to provide mandated meal and rest periods. Additionally, the layoffs and suspension of the 401K match program exacerbate employee disenfranchisement, reflecting adverse labor practices that harm worker rights and contribute to an authoritarian labor environment.

LoanDepot sued, jobs report sparks hope
JAN

01

2023

LoanDepot Settles Class-Action Lawsuit Over Misleading Disclosures
-31.28

In 2023, LoanDepot settled a class-action lawsuit brought by shareholders alleging that the company made misleading disclosures around its initial public offering in 2021, raising concerns about its transparency and ethical business practices.
-40

Business Practices and Ethical Responsibility

June 16

The settlement over misleading disclosures indicates ethical lapses and a lack of transparency in corporate practices. Such behavior undermines accountability and can erode public trust, making it a negative indicator from an anti-fascist, consumer protection perspective.

LoanDepot Mortgage Review 2025
DEC

23

2022

Lawsuit Alleges Poor Labor Practices at loanDepot
-54.60

A group of about 40 former loanDepot employees filed a lawsuit on December 23, 2022, alleging violations of labor laws including failure to pay overtime and minimum wages, denying meal and rest breaks, and not reimbursing work-related expenses, even as top executives received significant pay raises amid cost-cutting measures.
-70

Labor Relations and Human Rights Practices

June 16

The lawsuit details serious labor law violations which undermine worker rights and fair labor practices. Allegations of unpaid overtime, skipped breaks, and unreimbursed expenses, combined with executive pay raises during cost-cutting measures, represent exploitative practices that negatively impact employees and support authoritarian business practices.

loanDepot targeted by lawsuit alleging poor work conditions