The executive has also served as deputy general counsel at HUD
loanDepot has brought on former Fannie Mae lead counsel Joseph Grassi (pictured) as its new chief risk officer.
An experienced leader with over 35 years of legal and compliance experience, Grassi will be in charge of enhancing loanDepot’s risk management program and enterprise and loan-level risk governance policies, as well as managing potential operational risks.
“At the foundation of our vision 2025 plan are the built-to-last principles of quality, compliance, and customer excellence,” said loanDepot CEO Frank Martell. “Responding to identified risks and continuing to effectively anticipate enterprise risks will be critical to position the company for long-term growth and revenue generation.
“Joe’s vision and invaluable expertise in both the residential real estate industry and regulatory arena will help enhance our risk management program, further align our quality initiatives with those of Fannie Mae, Freddie Mac and the FHFA, and propel loanDepot forward during a period of enormous change in the home finance industry.”
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Before joining loanDepot, Grassi served as general counsel and chief risk officer of Celebrity Home Loans. Prior to that, he held various leadership positions at Guaranteed Rate, the Department of Housing and Urban Development, Appia Advisors, and Prospect Mortgage. Grassi also spent more than two decades at Fannie Mae, most recently as deputy general counsel of its single-family business.
“I look forward to working with Frank and his entire leadership team at loanDepot to deliver on the company’s vision of becoming an increasingly purpose-driven organization,” Grassi said. “loanDepot has both an incredible reputation for fostering innovation and a deep commitment to its customer-first philosophy. I’m excited to leverage the strengths of the company and team to help make the American dream of homeownership a reality for more families.”
