There are newer employer reviews for loanDepot

Great company! Pleasure to work here

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Senior Mortgage Banker in Scottsdale, AZ
Current Employee - Senior Mortgage Banker in Scottsdale, AZ

I have been working at loanDepot full-time (more than a year)

Pros

Easy to make a very generous income. The attire is casual, and the location in the Scottsdale Airpark is perfect for commuters and going for lunch

Cons

Technology sometimes leaves more to be desired. Sometimes the systems can shut down.

Advice to ManagementAdvice

Look forward to being independent with our own server network, rather than utilize a citrix substitute.

Opportunities for telecommuting could fix the capacity issue.

Recommends
Positive Outlook
Approves of CEO

loanDepot Response

Oct 11, 2013VP Talent Management

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

We're so glad that you've found our compensation structure easy to make a
... More

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  1. 4 people found this helpful

    Good people, I worked with a lot of smart people.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Manager in Plano, TX
    Current Employee - Manager in Plano, TX

    I have been working at loanDepot full-time (less than a year)

    Pros

    Most of middle managers and professionals are very smart and competent. I enjoy working with smart people.

    Cons

    The company is floundering with no clear goals. It reminds me of a drowning person panicking and pulling people that want to really help under with it. Executives are making poor decisions on what to do next to get business. None of the ideas have worked, but the middle managers knew it wouldn't work, but were not asked.

    Advice to ManagementAdvice

    Use your talent. If someone is asking for a Calculus problem, don't give them addition and bore someone out of a job. You give IQ tests to potential employees, then don't utilize their intellect. You bring in people instead of knowing your talent pool and promoting from within.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    loanDepot Response

    Nov 4, 2013VP Talent Management

    We appreciate feedback both constructive and positive, so thank you for taking the time to share your experience.

    Our company is flourishing actually, not floundering in the least. We're sorry it
    ... More

  2. 6 people found this helpful

    Can't speak for Foothill, Scottsdale, or Brentwood but in Plano STAY AWAY!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Was In Manager Role In Mortgage Sales in Plano, TX
    Former Employee - Was In Manager Role In Mortgage Sales in Plano, TX

    I worked at loanDepot full-time (less than a year)

    Pros

    Very good licensing dept.
    Building and location in Plano is very nice
    Gym in Plano location is not bad
    Covered parking in Plano if you get there early

    Cons

    loanDepot is only interested in shorterm success, (nothing is built for the long haul). Philosophy is "All In" now and it is a sure bet that later on you will not have anyting more to give, (so be leary when you see those "All In" signs all over the place there. If you are in the Plano area there are many other companies that are better choices to join, (there is a reason that in Plano they are having to rely on the ACES program to hit their hiring targets). ACES is a program designed to hire candidates with little or no experience but show potential. If you have experience I would stay away from loanDepot.

    The Culture and Values so talked about is not really there also so be careful when you see those banners hanging everywhere. In a nutshell the culture is we will give you some coozies, monsters and red bulls and then go tell you to work 10+ hours a day under unreasonable pressure. (just like one other reviewer mentioned, "just get the $495 deposit"..

    Work Life Balance-- Naaah, (you won't have it).. 50+ hours is very accurate. The pay will not off set it either, (if you are thinking that).

    Benefits are OK.. Very similar to other larger companies.

    Compensation-- A few will make decent, (mortgage industry), money but they will have special attention from processing in order to do so.. The rest will not make much.

    Advice to ManagementAdvice

    Not any that they would listen to or learn from.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    loanDepot Response

    Oct 16, 2013VP Talent Management

    We appreciate feedback both constructive and positive, so thank you for taking the time to share your experience.

    We’re glad that you found our licensing department to be good, as well as our new
    ... More

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