Steve Ozonian on the Board of LoanDepot
Steven Ozonian has been an integral figure in real estate, mortgage and title for more than three decades, serving on boards such as LendingTree, Attom Data Solutions and Inside Real Estate.
Anthony Hsieh, loanDepot founder, chairman, and largest shareholder has become involved in an ongoing disagreement with loanDepot’s CEO and largest shareholder, Sam Leung.
Early Life and Education
At an early age, Ozonian witnessed first-hand what it took to build something from nothing. He spent summers working on Chicago skyscrapers as an apprentice carpenter – an experience which gave him the desire to get his hands dirty himself.
Ozonian provides large public company leadership experience and mergers and acquisitions expertise to the board, making him a key member in lending his experience and providing insight on loanDepot’s position within this challenging economy.
Ozonian holds board membership at GMS Mobility, Attom Data Solutions, Inside Real Estate and Williston Financial Group as well as being a partner at Spinnaker Partners and advisor to Lovell Minnick Partners as well as serving on Carrington Mortgage Holdings’ Advisory Council.
Steven Ozonian has held several prominent real estate industry roles over his 25-year career: CEO of Williston Financial Group and board membership on LendingTree and Attom Data Solutions; founding partner and founding board member at Spinnaker Partners LLC, Lovell Minnick Partners LLC (now Inside Real Estate), Lovell Minnick Partners (now Lovell Minnick Partners) LLC as well as Lovell Minnick Partners (now Inside Real Estate), Inside Real Estate (Ire), and kvCore.
Growing up as the son of a Chicago-area high-rise developer, Ozonian learned how to construct, tinker, and see projects through to completion. That drive has served him well throughout his career as he has orchestrated the extraordinary growth of multiple real estate-related businesses – continuing his efforts today with assistance from an expert team.
Achievement and Honors
Steve Ozonian has spent decades as an executive in the real estate industry. Additionally, he founded and serves as president of Thunderbird Field II Veterans Memorial Inc, a non-profit entity with the purpose of honoring veterans while contributing to aviation education in Arizona.
Recently, he was appointed to the board of directors at loanDepot and brings with him extensive leadership and M&A expertise gained during his work with large public companies and mergers & acquisitions (M&A). Additionally, he serves as partner at Spinnaker Partners LLC, director of WFG National Title Insurance Co and Chairman of Sorrento Capital.
As well as his role in developing mortgage services technology solutions like the innovative QC platform and WEST digital offerings, he also brings a deep knowledge of broker/agent software demand as well as strong private equity investment experience to WEST.
As the son of a high-rise developer, Steve Ozonian learned early on what it takes to work hard and follow through on one’s vision. Additionally, he quickly developed the ability to tinker, which helped him make the most of both his technology and real estate careers.
He specializes in mortgages and digital technology, with experience in mergers and acquisitions. Additionally, he sits on the boards of Carrington Capital Management and Global Mobility Solutions which are both Lovell Minnick portfolio companies.
Hsieh recently agreed to step down as Executive Chairman of loanDepot as part of a mutual agreement between him and its board following an arduous proxy fight. Hsieh controls more than 40% of economic interest and over 57% combined voting power within loanDepot; according to his letter sent out to stockholders he plans on exercising these voting rights to add WFG CEO Steve Ozonian as an additional Board member at loanDepot’s 2023 Annual General Meeting.
loanDepot CEO Anthony Hsieh set off a proxy fight in February by nominating Steve Ozonian, president and CEO of Williston Financial Group (WFG), to replace Pamela Hughes Patenaude on its board of directors. Hsieh owns more than 57% of combined voting power at loanDepot shares and can nominate directors unilaterally, according to SEC filings.
He asserted that the mortgage industry is currently experiencing unprecedented change and called on board members to change in order to prepare the company for any upcoming challenges. He urged them also not to waste stockholder funds by engaging in needless proxy battles.
On Tuesday, the company and Hsieh reached an agreement regarding temporary expansion from eight members to nine and adding WFG Chief Executive Officer Ozonian as his nominee immediately.