loanDepot

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

2 people found this helpful  

Nightmare if you're in Underwriting

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

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

Pros

Potential to be a great place if we would commit to making necessary changes.
Well funded and innovative in building the business in a number of different ways

Cons

Processing runs the company and takes no prisoners. File issues are either Sales fault or Underwriting's. Rarely there's. Some are untouchable regardless of how ruthless, unethical or clueless they are and have the owner's ear at all times (which creates havoc since he takes no time to get the facts when they run to him complaining. If he did, he'd be mortified at what is actually happening). We've also lost senior leadership in UW that had brought a breath of fresh air with real experience and integrity. He totally had our backs but his hands were tied and couldn't get through to anyone regarding changes that everyone talks about and knows we need to make but can't get passed processing leadership. We are hard working, solid producers with great quality and a passion to protect the company. Unfortunately many of us feel beaten down and treated like second class citizens by our "partners" in processing. Strangest and most debilitating thing I've seen in the years I've been in this business. As much as I want things to change and get better, I cannot encourage people I know to seek UW employment here.

Advice to ManagementAdvice

I think the above speaks for itself.

Doesn't Recommend
Neutral Outlook
No opinion of CEO

loanDepot Response

Jul 25, 2014Director of Recruiting

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

90 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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