“Nikul is a big rent who will probably be a transformational member of our management group,” stated loanDepot’s founder and CEO, Anthony Hsieh. “Not solely does he convey a powerful monitor file of success from his years at LendingTree, however he additionally has a novel mixture of fintech and public firm expertise that can serve us properly.”
Hsieh continued, “As we pursue what I imagine is the most important market alternative I’ve ever seen, pushed by the mass adoption of AI, Nikul’s understanding of each our sector and our firm, which incorporates his latest position as an advisor to our Board, makes him uniquely positioned to assist speed up our momentum.”
Most lately, Patel served because the co-founder and CEO of LoanGlide, an embedded financing platform that supplied private loans for residence enchancment. Between 2012 and 2019, Patel additionally held varied management roles at LendingTree, together with chief product officer, chief working officer and chief technique officer.
Earlier than that, Patel co-founded Movoto.com, an internet actual property search platform. Patel earned an MBA from the Wharton College on the College of Pennsylvania and an MS in Laptop Engineering from Florida Atlantic College.
Mentioned Patel, “I’ve spent my profession constructing and scaling platforms that assist customers make smarter monetary selections—particularly in the case of shopping for and financing their houses. loanDepot is spectacular: it has the model, the breadth, the expertise, and the management to redefine what’s doable in mortgage lending. I’m excited to affix the group and sit up for working with Anthony as we unlock loanDepot’s full potential and speed up our progress.”
loanDepot’s hiring of Patel marks one other transfer within the firm’s management shakeup since Hsieh returned to the CEO role in July. In August, the corporate promoted Tom Fiddler to president of retail lending and Dan Peña as president of partnerships. Dominick Marchetti and Sean DeJulia, who have been key builders of the mello platform, additionally returned to the corporate after a hiatus.
In October, it was introduced that Rick Calle returned to loanDepot as its chief technique officer.
