loanDepot, Inc. (NYSE: LDI) announced that Chief Risk Officer Joseph Grassi has been promoted to Chief Legal and Risk Officer. The expanded role consolidates oversight of the company's legal, compliance, corporate governance and enterprise risk management functions.

Grassi will lead loanDepot's legal strategy, corporate governance and legal affairs, as well as regulatory compliance, loan quality and enterprise risk management functions. He reports directly to loanDepot Founder and CEO Anthony Hsieh.

The executive brings more than 35 years of experience in consumer lending law, mortgage regulation, compliance and risk oversight. Grassi has served as loanDepot's Chief Risk Officer since 2022.

"Joe has been an exceptional leader for loanDepot," said Hsieh. "His strategic mindset, industry credibility and proven leadership make him the right leader for this expanded role."

During his tenure at loanDepot, Grassi has strengthened relationships with government-sponsored enterprises including Fannie Mae and Freddie Mac, enhanced processes across loan quality and risk management, and increased engagement with policymakers and regulators.

Grassi serves as Co-chair of the Mortgage Bankers Association Legal Issues and Regulatory Compliance Committee and previously served as Co-chair of the MBA Independent Mortgage Bankers Executive Committee.

Prior to joining loanDepot, Grassi held leadership positions at Celebrity Home Loans, the U.S. Department of Housing and Urban Development, Guaranteed Rate and Prospect Mortgage. He spent 20 years as a senior attorney for Fannie Mae, ultimately serving as Interim General Counsel and Corporate Secretary.

Grassi holds a Juris Doctor and Bachelor of Science in Business Administration from Villanova University. loanDepot is a national retail lender that has funded $584 billion directly to consumers since its 2010 inception.