loanDepot

  www.loandepot.com
  www.loandepot.com
There are newer employer reviews for loanDepot

3 people found this helpful  

Once was a great place to work....

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

I have been working at loanDepot full-time (more than 3 years)

Pros

The benefits are some of the best in the industry and free pizza four times a year, they have subsidized vending machines and the technology support is good. Great place to work if you are under 25 and do not have any other responsibilities.

Cons

****The pay scale changed and most employees saw a significant decrease in pay.

The culture of the office is not what the company portrays to the public, they preach a professional environment while most employees wear tattered jeans, t-shirts and expose as many tattoos as humanly possible. Working a 10 hour mandatory day along with mandatory Saturdays is fine when the pay is commensurate, but it is no longer.

Managers became whip crackers rather than helpful to employees due to the culture change and their hands were tied. The company grew too fast for it's own good and can no longer keep the promises it makes to its clients causing additional stress to the producing employees. Clock watching became more important than production and breaks were "discouraged" unless you had produced.

There became several layers of management and when something rolls down hill, it gains a lot of momentum and lands square in the lap of the sales department. Most of the managers were forced to lead by fear and made sure to let sales people know that they are easily replaceable.

If the CEO really knew what was taking place in the office, he would be inclined to clean house.

Doesn't Recommend
Negative Outlook
No opinion of CEO

85 Other Employee Reviews for loanDepot (View Most Recent)

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  1. 2 people found this helpful  

    Software Developer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Software Developer in Foothill Rnch, CA
    Former Employee - Software Developer in Foothill Rnch, CA

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

    Pros

    Great company. Benifits are good. CEO has good vision and Dynamic.

    Cons

    There are some useless managers at mid level in IT. They use third party software and lot of customization.
    They use some loan numbers( for all fields, entity) to manage all their core software. This throws all software checks built my microsoft (like compile time data type errors, hooks for run time code execution etc) out of the window. The software crashes at run time and needs too much testing at QA . Violates all modern software principles. Also all form generation code are compared byte by byte by the manager wasting everys ones time and discouraging developers.

    Too many analysts and few developers puts some stress.

    Some managers spend reviewing the code without doing any useful work!

    Advice to ManagementAdvice

    Consider rewring software based on modern software prriciples. If you use third party ask them to fix rather than your staff modifying their code without fully understanding what is going on.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  2. 1 person found this helpful  

    Fresh out of training.. This place is AMAZING!

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

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

    Pros

    The company culture here is a complete 180 from the last lender I left. They supply 10-15 warm lead transfers daily. Many of the agents on the floor are very busy and are earning great incomes. Half of the agent earned in excess of $8,000 last month.

    Cons

    The technology isn't as good as it can be. Needs a better online presence with the website.

    Advice to ManagementAdvice

    Great company thus far! Please look at upgrading the CRM and phone systems, They are a bit out dated now.

    Recommends
    Positive Outlook
    Approves of CEO

    loanDepot Response

    May 8, 2014Director of Recruiting

    Thank you for taking the time to write about your experience as an employee at loanDepot. We appreciate your feedback! One of the areas we have invested in heavily is our training department. We are ... More

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