After spending 16 years at loanDepot, Alex Madonna, who was recently the executive vice president of direct lending, has announced his departure from the company. This news comes just months after Madonna was named to a new role focusing on emerging technology, artificial intelligence, and modern sales structures. In a LinkedIn post, Madonna confirmed his departure and announced the founding of his new venture, Trust One Financial, which will be open for business in early April. Trust One Financial will be partnering with Ease Mortgage and backed by UWM to provide the best tools and fulfillment in the industry.
In an interview with HousingWire, Madonna described his departure from loanDepot as a mutual and amicable decision aligned with Anthony Hsieh reassembling a fresh leadership team. He expressed his interest in the broker space and his plans to scale Trust One Financial over the next 12 to 24 months.
Hsieh, loanDepot’s CEO, initially announced Madonna’s departure in December, praising his honor, ethics, and commitment as a founding member of the company. Hsieh expressed his support for Madonna’s new chapter and credited his intensity, focus, and drive for loanDepot’s 38% growth each year for its first 11 years.
Despite reaching out to loanDepot for comment, they declined to provide further information when contacted by HousingWire.