loanDepot Employee Reviews

3.4
Overall rating
Based on 204 reviews
Ratings breakdown
547
452
352
232
121
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1.0
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Layoffs months ago only to hire younger
LLO (Current Employee) –  Foothill Ranch, CAJuly 14, 2018
Had several rounds of lay offs just to hire the same positions they just laid off. Wasnt even 2 months ago. No longevity just another revolving door. The culture was the foundation of who loanDepot was, but its no longer the same. It really feels like you stepped into a college campus. You get excited because they sell you on the money but realistically you put 12 hours a day 6 days a week. Do the math it doesn't add up. all executives that were supposed to be "all in" left for a reason.
Pros
None
Cons
Hours, management
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5.0
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unhappy- Benefits only postive factor when worked there
DE Mortgage Underwriter (Former Employee) –  Scottsdale, AZJuly 12, 2018
Management in underwriting department was horrible, didn't let employees utilize their skills, favoritism with employees, pick and choose who they wanted to use their skills that both met the needs of the company and satisfied their wants. Didn't think of employee.
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4.0
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Excellent Company to work for
Senior Human Resources Business Partner (Current Employee) –  Southfield, MIJuly 11, 2018
I worked with wonderful people and a great team. I will miss them and the dynamics of the company. It was a structured environment with good potential. I wish them all the best.
Pros
Culture and people
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3.0
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Roll with the changes
Platinum Licensed Loan Officer (Current Employee) –  Nashville, TNJuly 9, 2018
The first two years were great, with a transfer, I had new management.

The Michigan Management team was a lot different and not as people oriented as the Tennessee folks. I believe their proximity to Quicken Loans drives that... you are more disposable and thus treated will less regard for vacation and general work hours.
Pros
Leads come to you
Cons
Leads often times don't know how they got on the phone and tell you to put them on DNC list.
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1.0
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Loan processor
LOAN PROCESSOR 1 (Former Employee) –  Scottsdale, AZJune 28, 2018
Micro managers, they take away loans from you if they don’t like you. Always giving you a template for emails. If your email was not up to par by manager, you get talked to. We had to walk on eggshells as the manager would be happy one min then next min angry. They would put you down and make you feel stupid. I’m glad I’m outta there!!!
Pros
Time
Cons
Managers
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Official response from loanDepot
July 2, 2018

Thank you for taking the time to write about your experience as an employee at loanDepot. We appreciate your honest feedback!
We’re sorry to hear about your experience with our company. We will share your insights with our team so that we can continue to improve our corporate culture. If you would like to speak to someone here about your experience, please feel free to email us at wecare@loandepot.com and we will set up a time to connect.

4.0
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Good
Underwriter IV (Former Employee) –  Foothill Ranch, CAJune 26, 2018
LoanDepot is a good company to work for depending on which center you report to. Unfortunately the same cannot be said for their management team which is where the issues are. They tend to have a big turnover with Managers which makes it hard for an employee.
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1.0
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Culture
Senior Licensed Loan Officer (Former Employee) –  Franklin, TNJune 19, 2018
Non-existent Culture - this is just not the place for growth, The company looks at people as a cost cutting tool. The opportunities are not provided to excel and help is not given.
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Official response from loanDepot
June 28, 2018

At loanDepot we believe in having the right people in the right roles at all levels who are committed to our core values. It also means we remain responsive to the constant changes in the industry while also being strategic about our growth and mission. Sometimes this can result in unexpected organizational changes, while at the same time providing opportunities for employees to grow, learn and succeed.

4.0
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Salary is not that great and when told your getting a raise it is never given. Management is great.
Processor (Former Employee) –  Scottsdale, AZJune 16, 2018
Salary is not that great and when told your getting a raise it is never given. Management is great as well as co workers. There is no micro management and very understanding with life outside of LoanDepot.
Pros
n/a
Cons
n/a
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Official response from loanDepot
June 28, 2018

Thank you for the great feedback.
Our leaders care deeply about our company, and always urge us to be best in class. While we are a company that has high expectation, we also recognize that work/life balance is critical to employee happiness, retention and productivity. It’s a fine balance. We offer 15 days of PTO annually or more, based on tenure and for the most part, our employees are very happy with this benefit.
We wish you success in your next venture.

3.0
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Plenty of warm leads
Licensed Lending Officer (Current Employee) –  Southfield, MIJune 16, 2018
Work starts at 8:00am and there are warm leads ready for you to simply answer the phone and help. The job itself isn't flawed and I could see people building a career here. It really comes down to how hard you are willing to work and how much you can learn from your leaders and teammates

If your production manager is focused on improving his/her team of Licensed Lending Officers and your teammates are helpful then you will most likely keep improving to the point where hitting your sales goal is no problem
.
If your manager doesn't look for any opportunities to add value to his/her team then it will be very difficult for you to grow and get better at your job. You will feel like you are on an island. This is great for some people but usually it just leads to struggling salespeople.
Pros
The phones are always ringing and you have a lot of control of your personal success.
Cons
My manager rarely did anything that helped me close more clients, 60 hour work weeks are the norm
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Official response from loanDepot
June 28, 2018

We appreciate all comments, both positive and constructive, so thank you for taking the time to share your experience at loanDepot.
At loanDepot we believe in having the right people in the right roles at all levels who are committed to our core values. It also means we remain responsive to the constant changes in the industry while also being strategic about our growth and mission. Sometimes this can result in unexpected organizational changes, while at the same time providing opportunities for employees to grow, learn and succeed.

5.0
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Good company
Loan Officer (Current Employee) –  Boca Raton, FLJune 14, 2018
Enjoy working at loanDepot. Great people to work with. The company tries to be innovative, trend setting, and inspirational. The technology they use is ahead of all our competitors.
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4.0
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Great company with great management
LOAN ORIGINATOR (Former Employee) –  Chicago, ILJune 12, 2018
LoanDepot is a great company that focuses on technology and the customer. They compensate their employees very well in exchange for the hard work put in. I worked their for 5 years and enjoyed every year with them. It was great to see the tremendous growth they had first hand.
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Official response from loanDepot
June 28, 2018

Thank you for taking the time to write about your experience as an employee at loanDepot. We appreciate your honest feedback!

3.0
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Great location, great benefits/comp plan
Loan Officer (Former Employee) –  Scottsdale, AZJune 6, 2018
Leads are decent if you're good on the phone. This is a call center job, so if you're not use to sitting in a cube for 11 hours, probably not for you. Money is real, the majority of the sales floor is getting paid (150-300k) not just a couple here and there. Have to manage your time properly between pricing, pitching a deal and managing your loans, the day will FLY by. Great location, always a food truck outside, and energy drinks are rolled around on a cart for free every now and then.
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Official response from loanDepot
June 28, 2018

Thank you for taking the time to write about your experience as an employee at loanDepot. We appreciate your honest feedback!
We’re going to pass this along to our management team for inquiry. Thank you for sharing your experience with us.

4.0
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Good place to work
Closer/Funder (Former Employee) –  Plano, TXJune 5, 2018
This is a really good company to work for, just be ready to work and meet production numbers, as this is a production driven position. The people are really great with helping and training you on hitting your numbers for the month.
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5.0
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Welcoming place to hard workers
Verification Specialist (Former Employee) –  Lake Forest, CAJune 4, 2018
A typical day at work was very relaxing, I went in and was able to do the work I was assigned to. I finished my projects on time. The manager and supervisor were both kind and respectful people. The company it self treated their employees very well.
Pros
Free lunch, prize days, room for improvements
Cons
slow days
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3.0
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Good job if you like to grind
Licensed Loan Officer (Former Employee) –  Foothill Ranch, CAJune 4, 2018
Must be prepared to grind on the phone 11-12 hours a day every day.
If you are looking for a work-life balance this is not the place for you. Not a great place to be in a high rate market, just recently ramped up the purchase division, primarily a refinance shop (that is where I worked). Working remote offers little time for anything else in your life (12+ hours a day), working in the office is better 10+ hours a day expected. Vacations and time off result in lower quality leads being provided until production average comes back up (time off hurts you).
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Official response from loanDepot
June 28, 2018

Our leaders care deeply about our company, and always urge us to be best in class. While we are a company that has high expectation, we also recognize that work/life balance is critical to employee happiness, retention and productivity. It’s a fine balance. We offer 15 days of PTO annually or more, based on tenure and for the most part, our employees are very happy with this benefit.

1.0
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no work life balance
Licensed Lending Officer (Former Employee) –  Plano, TXJune 1, 2018
typical sales job where your are constantly pushed to do more and it is never enough
compensation is tiered so you have to accumulate a lot of sales in order to get a good paycheck. low to medium numbers will not get you paid
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Official response from loanDepot
June 28, 2018

At loanDepot, one of our core values is “taking care of our people.” We demonstrate our commitment to this in a number of ways. One example is by providing 15 days of PTO for all employees annually, or more, based on tenure. While we work hard and sometimes work long hours, it’s important for our employees to have an opportunity to enjoy down time. We believe that work/life balance is paramount to both productivity and employee happiness, and we understand your concerns.

4.0
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Not bad, mostly worked off site
QA Analyst III (Former Employee) –  Foothill Ranch, CAJune 1, 2018
Don't really care ti review this at this time. Not very happy that i have to write a hundred and fifty characters to get out of this stupid page. Shame on you.
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4.0
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Production
License Lending Officer (Former Employee) –  Southfield, MIMay 30, 2018
Take leads and convert, get paid on closings, leads are given based on conversion so if you're in a bad tier, it will be a struggle. New employees are given top tiers to get them to buy in.
Pros
Straight forward, you know the job so come in, do it then go home.
Cons
same thing everyday.
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3.0
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Lots of Leads
Senior Mortgage Loan Officer (Former Employee) –  Scottsdale, AZMay 29, 2018
fast paced, long hours, great pay great benefits, need to catch on quick or they let you go. Slow at getting your licenses, but great Christmas party!
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Official response from loanDepot
June 28, 2018

Thank you for the great feedback!

We’re going to pass this along to our management team for inquiry. Thank you for sharing your experience with us.

3.0
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Competituve enviorment
Licensed Loan Officer (Former Employee) –  Franklin, TNMay 29, 2018
Very competitive enviorment. Offers a lot of daily trainings. Great compensation with a good production support team. Good management in which you are not micromanaged.
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Diversity score

73out of 100

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