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15 reviews

loanDepot Employer Reviews

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  • Job Work/Life Balance
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Job Work/Life Balance
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One of the worse places I have worked...
Support staff (Former Employee), Franklin, TNDecember 29, 2014
Cons: sweatshop
This is one of those places were you are just a number. No care or compassion. If you have a family or any type of life outside of work, this is not the place for you. Overtime is good however, each day 5 minutes before my shift ended, I would get a call or e-mail to let me know how many additional hours I needed to work that day. Management is very inexperienced, one day you will be told to do something one way and next day it changes with no communication to you. It's a big numbers game however, be sure to keep an eye out on your numbers because lots of unethical people there that have no problems taken credit for your work and claiming your numbers.
Micro-managed, camera's watching your every move.
I worked with a couple of two faced people that refused to participate in team work and made it very difficult for any type of growth within.
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Very good culture and willingness of team members to work together as a group
DBA IMORTGAGE (Current Employee), scottsdale, azDecember 15, 2014
Pros: free onsite gym, deli located in building
Cons: no lunches and breaks, overwhelming workload
Management is open and communicates well.

There is a non standard business practice that can feel biased towards some employees and not others.

Funders work straight through each loan and leaves no time for lunch.
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This is a wonderful company to work for! I love the culture, the environment and the opportunity it's given me to advance my career!
Executive Assistant to CEO (Current Employee), Plano, TXSeptember 8, 2014
Pros: company lunches, hump day treats, etc.
Cons: insurance benefits could be a little better
I started working for the company 4 years ago. I've worked my way up from the Receptionist to the Executive Assistant to the CEO, because of my character and my integrity.

I've learned that communication and trust are the two most important components between a CEO and their EA.

A typical day at work would include scheduling meetings, setting up executive retreats, philanthropic events, scheduling car service/travel for C-level employees, managing the CEO's house, vendors, maintenance of all vehicles as well as taking care of CEO's personal dry cleaning, groceries, mail, pets, etc.

We've developed a unique culture within the company that's nurtured and very much alive. It's because of that culture that we're a close knit family and truly enjoy working together to make this company "Best in Class". I can honestly call my co-workers my friends.

The hardest part of the job is having to say good bye to someone and the most enjoyable part of the job has been watching this company, which was started in one of the worst economies, grow and flourish to become the 2nd largest direct lender in the nation!
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Ok place to work not great!
Senior Loan Processor (Former Employee), Foothill Ranch, CAMay 5, 2014
Pros: free lunches at the end of the month
Cons: health care ins is expensive only one choice of a company
Its an ok place to work. The owner of the company is very smart and nice but the management that he has in place is not very helpful at much of anything especially creating a Team environment . Very political environment, not very fair when it comes to promotions. Managers are very immature everything seems to be based on who's more popular and who they like the best.
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Management needs a lot of training.
Management (Current Employee), Foothill Ranch CAApril 8, 2014
At first glance the Culture of the company draws you in. Very nice people but they lack training in all departments. Company is quick to hire and also just as quick to let go with any fluctuations in the market. This company has many possibilities to be a great service if they can stick to one training program and follow through. All employees are constantly being trained different information and it always changes. Management is poorly advised and trained. Any input from employees on improvement is quickly shot down or ignored. There is a lot of illusions at this company that things are changing or doing well. But spend a week and you will experience the lack of communication, training, direction and overall Team work. Disappointing as I had hoped it was all it seemed to be.
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Great people - not very fair
Senior Account Manager (Former Employee), foothill ranch CAJanuary 27, 2014
Files were not distributed fairly. Really hard to get loans funded
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Okay place to work. Better places out there.
Sr. Mortgage Banker (Former Employee), Scottsdale, AZDecember 14, 2013
Pros: good pay if you can put up with all the bs.
Cons: managers are horrible, dog and pony show smoke and mirrors management. two faced beyond belief.
Overall a good company.

Good commission structure. Need to close 11 retail loans a month at 100k plus to clear 150K a year on average for salary plus commission.

Decent leads. The market is tough right now!

Need to hold processing's hand to close loans.

Was told multiple times to originate loans that had a zero chance in closing just so the Manager's numbers look good.
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Positive Culture/Negative Politics
Senior Account Manager (Former Employee), Scottsdale, AZNovember 12, 2013
Great place to work; however, did not feel they always operated ethically.
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Professional but fun work environment
Jr Mortgage Banker (Former Employee), Irvine, CAOctober 23, 2013
first position in a sales setting. it was a bit difficult for me.
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No job security
Senior Underwriter IV (Former Employee), Foothill Ranch, CAOctober 15, 2013
Pros: compensation
Cons: non compliant to fha/va guidelines
The compensation is great! However, there is no stability. Processors are green and so is management. Underwriters beware unless you are willing to sacrifice integrity.
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Filled with a ton of lies and unanswered promises
mortgage processor (Current Employee), plano txSeptember 20, 2013
Pros: nothing
Cons: lies
Management has no idea how to run an organization....no set direction or training....all in all a sweat shop enviroment to work in...wouldn't recommend anyone go here especially if you are in the Dallas area.
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Excellent company
Quality Assurance Analyst (Former Employee), Foothill Ranch, CASeptember 8, 2013
Pros: excellent company
Excellent company work, good hours, nice co-workers, managment friendly.
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A lot of hype, but no direction or training.
Appraiser II (Former Employee), 26642 Towne Centre Dr Foothill Ranch, CA 92610July 25, 2013
Pros: free lunch the last week of the month.
Cons: training is terrible. communication is terrible. teamwork is terrible.
They react instead of plan. Start in one direction and then when things don't work go in a completely different direction. Focus on closing loans at all costs regardless of issues with the collateral. Started up an appraisal department. Hired 8 new appraisal reviewers. Very little direction and training. After rates took an uptick, the laid off 7 of the 8 they had hired.
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Voted the top place to work in Orange County
Senior Account Manager (Former Employee), Foothill Ranch CAJuly 22, 2013
Very nice office and positive working environment. While this place was voted the top place to work in Orange county, there is a lack of training. Managers did not provide any expectations and once interest rates rise they were very quick to let go numerous employees.

About loanDepot

loanDepot.com, LLC (loanDepot), is a leader in online residential mortgage lending. With licenses in all 50 states, loanDepot – Read more