loanDepot Employee Reviews

Showing all 60 reviews
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Always room to grow/ Fun enviroment to work for
Currently Employed Verification Specialist (Current Employee) –  Lake Forest, CAFebruary 19, 2016
Been working here for almost a year now and couldn't be happier to have been in the company, certainly learned a lot more about myself, and what I'm capable of and a lot about the business now. My managers are very supportive, and always want the best for me. The people I work with are always fun to work with and keep the day going for the long hours we put in.
Pros
Great benefits, great managers, great enviroment
Cons
None
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Fun place to work, no work/life balance
Processing Manager (Former Employee) –  Plano, TXMarch 30, 2016
Very little work/life balance. Long hours, and much under pressure. Enjoyed the employees I worked with. A challenging work environment, but a great location and great salary. PTO days were minimal and 401K not as strong as other places I've worked
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Run
Loan Consultant (Former Employee) –  Foothill Ranch, CAFebruary 20, 2016
average age appeared to be 20 and is a slave pit with little reward for compensation. totally micromanaged for how long your talk how. Expected to take call after call after call without working your leads fully...and still make 100 outbound calls. Leads are horrible quality - lending tree leads and the borrower always goes for the lowest rate and is bombarded by calls while you are talking to them...wayyy too much competition on the leads.

They have like 100 people in a room with low cubicles so it's crazy noisy and oppressive to work there. China factors probably have a better work environment.
If you've never done loans before and want to do a ton of volume with little reward, go to loan depot.
Pros
absolutely zero
Cons
required to work most saturdays, in noisy atmosphere
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Unrealistic expectations for underwriters.
Underwriter IV (Former Employee) –  Costa Mesa, CASeptember 10, 2015
One of the worst places I have worked in over 20 years in the industry. Their Wholesale Underwriting Division is a complete mess. Promises and more promises of better software will not help the loans move faster. Loans are uploaded by Wholesale Brokers and assigned to Underwriter's without a loan processor reviewing the files. Underwriters are expected to process and underwrite the files. Minimum touch is at least 4 times until the loan is approved. Forms, processes and other non underwriting tasks bog down an underwriters day and productivity. At first I thought that management just didn't understand the tediousness of the position, but after time I realized they just didn't care. It really is a sweat shop. File assignments are given with the understanding that your day will be 10-11 hours and you are not allowed to stop until your assignments are completed. Stay away if you desire a good live/work/life balance.
Pros
Remote Underwriting
Cons
Sweat shop
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Management, Job Culture and Technology is the Best!
Underwriter (Current Employee) –  TexasJuly 22, 2016
They are committed to develop and provide advancement opportunities for their employees. They seek employees with a passion to grow and see themselves in a career minded direction. Systems are intuitive, great compensation for the market and ongoing training opportunities. Career advancement opportunities are abundant.
Pros
Advancement Opportunities
Cons
3% 401k Match
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Great Company to work for
Custumer Lending Specialist (Current Employee) –  Lake Forest, CAFebruary 25, 2016
Its a great company to work for, very beneficial. If your looking for a company to grow with, this will be that company. There are lots of positions to go to, if you don't enjoy the current position you are in you can always just try to reapply for another position. The jobs are endless with this company. The atmosphere, and the support you receive from this company is amazing!
Pros
Great atmosphere, and company
Cons
Over micromanage at times when unnecassary
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culture
Customer Lending Representative (Current Employee) –  Lake Forest, CAFebruary 26, 2016
was a lot of culture in the company, friendly staff felt like family, they appreciate there employees, a lot of room for growth
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Shady practices
Senior Underwriter IV (Former Employee) –  Foothill Ranch, CAMarch 23, 2016
Get the next loan done and out that door. That is the culture, do more at any cost regardless of quality. Lots of overtime but no quality of life
Pros
$$$
Cons
everything else
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Don't do it if you have a life
mortgage processor (Former Employee) –  Plano, TXMay 24, 2016
I don't know where to begin. If you work in the Plano office expect to work your behind off and it still not being enough at the end of the day. Who you know and not what you know, waaaaay too many files at one time and they expect you to get it all done. Or they will be glad to show you the door, this office is not run well my management at all.
Pros
Bonus pay
Cons
No lunches and no life
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loanDepot
Contact Center Supervisor (Former Employee) –  Plano, TXMay 20, 2016
loanDepot used to be a good place to work. It seems like things just changed over night. They pull you in & tell you about all of these growth opportunities but upper management will throw curve balls at you to keep you in your current position.
Pros
There are a lot of good people who work there.
Cons
Upper management has no direction / no leadership.
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Competitive and productive work place with many benefits
Customer Lending Representative (Current Employee) –  Plano, TXMay 2, 2016
The company is a competitive work environment with great benefits,the work load and need to stay on top of your numbers, transfer calls, and script can be stressful at times. The most enjoyable aspect of the job is the camaraderie amongst our team members.
Pros
Co-workers
Cons
Too many phone calls
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I work with Rockstars!!!
Recruiter (Current Employee) –  Foothill Ranch, CAJune 2, 2016
First of all everyone's experience is different so you are obviously going to see mixed reviews here. I am PROUD and HAPPY to be here!

I have worked in the mortgage industry for over two years and previously worked in the sub prime industry for a few years.
YES it's demanding, high stress and what you put in, is what you get out.
However I have a strong work ethic, I like to work hard, I manage my time well and I manage to have a work/life balance. YOU CAN TOO!
This industry is not for you if you can only work an 8 hr work day everyday.

Why do I love lD so much..

*Awesome culture/I love the management and people I work with
*We are a young, technically driven company providing growth opportunities.
*Opportunity for growth and promotion
*Our training programs are second to none and Sales and Processing.
*Benefits are great! We have a 401K/match and they kick in quickly.
*Company is young and is already a well oiled machine.
*Anthony Hsieh! Our CEO strives to make this the company #1 and he is the reason we are so successful.
*People are happy here! It's written all over there face

If you are a rockstar work with the rockstars! Don't "try out" the industry because you think you "can do it." If you don't have the work hard play hard, self motivated, determined and driven mind set, this is not for you!
Pros
Growth, promotions, culture and casual environment, compensation
Cons
Demanding industry, fast growth = some growing pains
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Very fun place to work
Senior Account Manager II (Current Employee) –  Scottsdale, AZJuly 27, 2016
Love love love the job. There is always room to make plenty of more money. Free lunches all the time and the people you work for really appreciate you. Worth all the interviews
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HR and Diversity is solid
Customer Care Representative (Current Employee) –  Foothill Ranch, CA 92610June 4, 2016
Management tools
Time management
Diversity and understanding
Sticking things through
Communication through technological systems that have improved
Pros
Benefits/Management
Cons
Time for Individual and in office improvements
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Love working for this company!
Sr. Mortgage Banker (Current Employee) –  Scottsdale, AZApril 30, 2015
I have been so happy since joining loanDepot. I enjoy coming to work every day! The people are great, the management is supportive, the pay is excellent. loanDepot gives you all the tools needed to be successful, all you need to bring is experience, determination and motivation. The comp has exceeded my expectations......
Pros
Great culture, excellent compensation, supportive management, company is growing..... tremendous room for growth potential
Cons
none
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Great Company Culture, Poor Work//Life Balance and Compensation.
Jr. Mortgage Banker (Former Employee) –  Foothill Ranch, CAJune 17, 2014
Pros: Casual work environment, co-workers are generally pretty chill and easy to get along with. Occasionally we get free lunches and such. Also, there are some good opportunities for advancement to other departments. Benefits are standard; health/dental/vision, and 401k.

Cons: Work/life balance here is poor. Pay is not that great either. Also, it's mandatory overtime. Management has this attitude that you if you don't volunteer for more overtime in addition to the mandatory overtime, then you somehow are not "all in" and don't have a good work ethic. Seriously, 12 hrs a day is a lot of time to dedicate to something that doesn't pay well and keeps me away from my family.
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best place i ever worked
Consumer Lending Specialist (Former Employee) –  Plano, TXJuly 8, 2016
great people the call center was always fun and up beat would love to go back

they always took good care of there agents

always feed us seemed like everyday
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Good, growing company
Senior Vice President, IT Operations (Current Employee) –  Foothill Ranch, CAMay 12, 2016
Fast growing company with very strong direction. Great employees who are dedicated to the success of the company. Good working environment with open office configuration to encourage more team collaboration. Strong investment in technology.
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Don't waste your time
LLO (Former Employee) –  FHRJanuary 26, 2016
backwards reasoning

counter intuitive

leads from juniors are not worth it

slave ship

management needs to be reevaluated

30 years plus of leadership is a joke

not objective at all.

DOG and PONY show!!!
Pros
co workers
Cons
everything else
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Excellent oppurtunity
Consumer Service Representative (Former Employee) –  Plano, TXMay 9, 2016
This is a growing company with a lot of chances to grow. You have to be able to survive the shark tank to move forward. Remember to keep involved with the team but stay to yourself. Management your best interest at heart but not as much as they may say.
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Overall rating

3.3
Based on 60 reviews
5 stars
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Ratings by category

Work/Life Balance
2.9
Compensation/Benefits
3.6
Job Security/Advancement
2.8
Management
3.0
Culture
3.2