Long-time loanDepot exec Viviana Abarca has been promoted to managing director of mortgage lending operations, the company announced.
Abarca previously served as EVP of Lending Operations. In the last eleven years, she has held multiple positions across loanDepot, starting her tenure in 2013 as an underwriting manager.
“We have a phenomenal team, a phenomenal platform, and an exciting opportunity to take our existing operational excellence to the next level. We will continue to strive to exceed the expectations of our customers and deliver a best-in-class experience to our origination partners. This is critical work that will support the growth and success of loanDepot as we pivot into the next cycle,” she said.
In her new role, Abarca will lead loanDepot’s loan processing, underwriting, and closing operations. She will report directly to president and CEO Frank Martell and join the company’s Executive Committee.
“Building a world-class operations team is an integral part of our Vision 2025 strategic plan. I cannot think of anyone better than Viviana to take our operational capabilities to the next level,” Martell said.
“As we advance our Vision 2025 plan, under Viviana’s leadership in lending operations we will continue to invest in automation to drive operating leverage, develop new customer-facing tools and functionality, and implement operational and structural changes to optimize and streamline our operations and position loanDepot for long-term success.”
Prior to loanDepot, she worked in the underwriting and customer service spheres at Bank of America, JPMorgan Chase, and Compass Bank.
Abarca will remain at the Irvine-based company’s Phoenix location.
loanDepot has added several key leaders in the last year, including a new head of VA lending and executive director of enterprise partnerships and acquisitions.
Launched in 2010, the California-based company prioritizes a “digital-first” approach to lending. It is one of the largest non-bank lenders in the U.S. and operates hundreds of offices across the nation.
Its actions are informed by its Vision 2025 plan, which aims for “long-term value creation” through organizational restructuring, job cuts, emphasis on outreach to underserved communities, and growing its HELOC business.
The company recently introduced a new training resource for loan officers interested in expanding their knowledge of VA loans.