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loanDepot

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loanDepot

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loanDepot Reviews

Updated May 14, 2022

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Found 1,794 of over 1,811 reviews

3.5
61%
Recommend to a Friend
77%
Approve of CEO
loanDepot Founder and CEO Anthony Hsieh
Anthony Hsieh
1,171 Ratings

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Top Review Highlights by Sentiment

Pros
  • "Pay is good and the bonuses that are given for the work you complete is worth it.(in 99 reviews)
  • "There is very little micro management which is great!(in 85 reviews)
  • "The company stride to be the leading direct lending company built on great customer service and culture for their employees(in 82 reviews)
  • "Great benefits for medical and dental(in 81 reviews)
  • "They offer great training and will pay for licensing(in 71 reviews)
Cons
  • "You will have no work life balance and also can be let go very quickly.(in 83 reviews)
  • "Long hours to be successful and most clients have not heard of us so we need to build the brand name with clients.(in 79 reviews)
  • "If you have a good manager, stay until you can no longer rise in the ranks.(in 42 reviews)
  • "Working long hours.(in 42 reviews)
  • "Certain bankers who are relatives or close friends of upper management (and yes, it helps if you are young, female, and flashy) tend to get their own dedicated processor, and all the best leads regardless of talent or production efficiency.(in 30 reviews)
Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

Ratings by Demographics

This rating reflects the overall rating of loanDepot and is not affected by filters.

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  1. 5.0
    Current Employee, less than 1 year

    Mortgage loan officer

    May 13, 2022 - Senior Mortgage Loan Officer in Albuquerque, NM
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Good pay and benefits. Easy to get leads if you work hard

    Cons

    Stressful but rewarding. Need to create a structured plan by yourself

    Be the first to find this review helpful
  2. 5.0
    Current Employee, more than 1 year

    Remote is great

    May 11, 2022 - Mortgage Underwriter in Lake Forest, CA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Great management and overall team

    Cons

    Great pay and good benefits

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    loanDepot Response

    Recruiting Manager

    Thank you for your feedback. We pride ourselves on having some of the best leadership and team members in the business. We appreciate you sharing this insight with others and wish you continued success with the organization.

  3. 4.0
    Former Employee, more than 3 years

    LAID OFF DUE TO MARKET

    May 10, 2022 - Senior Underwriter III in Roseville, CA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    PEOPLE that I worked with BENEFITS for insurance PAY REMOTE OPERATIONS

    Cons

    Promoting inexperienced people underqualified management favoritisms lack of Q.C. prior to funding doing high risk loans

    Continue reading
    Be the first to find this review helpful

    loanDepot Response

    Recruiting Manager

    Thank you for your feedback and for your years of loyalty. We value your insight and appreciate you sharing some of the perks of being a part of loanDepot. We are always looking to improve and will be sure to share your comments with leadership. For further conversation, we are here: wecare@loandepot.com.

  4. 5.0
    Current Employee, less than 1 year

    Excellent Recruiting

    May 8, 2022 - Scrum Master 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    My information was passed to recruiting from a contact, and I received a call within an hour to chat and discuss if I would be interested in the open roles. When my recruiter, JR, said he would contact me with an update, he was on top of things. After each round of interviews he checked in to see my interest and thoughts and also shared the feedback from the interviewers, which was helpful for me to grow. Since I've started, I've jumped into the deep end. My group is extremely busy, but not in any way that is unmanageable. My leadership chain consistently checks in to make sure that we are not overworking ourselves, and they are not asking where I feel like I'm being judged for not doing enough. The work we're doing is exciting to see coming together and the energy and culture of the department is great. So far, I've already been given free to me training for one certification with the promist of another when there are more people to form a class. These are making me both better at my role and more marketable in the future - with encouragement to add to our LinkedIn profiles and resumes given.

    Cons

    My department is fairly new and just getting ramped up, so the new hire training is a little less than I would have liked. The learning curve has been a little steep, and while I'm ok with learning on the fly and asking lots of questions, not everyone will be. I miss my Snaggit tool :D

    Continue reading
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  5. 5.0
    Current Employee

    Nice company and team

    May 8, 2022 - Software Engineer in Irvine, CA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    I really like my current team

    Cons

    nothing cons i can think about

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  6. 4.0
    Former Employee, more than 1 year

    Good

    May 9, 2022 - Loan Officer 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Great way to get foot in the door

    Cons

    Long hours, costs are high

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  7. 4.0
    Former Employee, more than 1 year

    Good Place to get started in the Mortgage Industry

    May 9, 2022 - Loan Officer in Scottsdale, AZ
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Excellent training Great technology Great earning potential if you meet expectations

    Cons

    Long hours micro-managing Loan production is their top priority Weekend shifts

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    loanDepot Response

    Recruiting Manager

    Thank you for your feedback. We pride ourselves on our technology, training and competitive earning potential and appreciate you sharing this insight with others. We are always looking to improve and will be sure to share your comments with leadership. For further conversation, we are here: wecare@loandepot.com.

  8. 4.0
    Current Employee, more than 1 year

    Great place to work

    May 8, 2022 - Loan Officer 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Benefits and great management team.

    Cons

    Recent change in pay structure

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  9. 4.0
    Former Employee, more than 3 years

    Gs Supervisor review

    May 8, 2022 - Guest Service Supervisor 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Amazing understanding bosses Get to watch the ballgame at times

    Cons

    $6 lunches 20 min breaks Low pay

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  10. 4.0
    Former Employee, more than 5 years

    Morgage company

    May 7, 2022 - Senior Mortgage Banker At LoanDepot in Foothill Ranch, CA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Good money, good people to stay in the industry

    Cons

    Lots of work but good pay

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Viewing 1 - 10 of 1,794 Reviews

loanDepot Reviews FAQs

loanDepot has an overall rating of 3.5 out of 5, based on over 1,811 reviews left anonymously by employees. 61% of employees would recommend working at loanDepot to a friend and 54% have a positive outlook for the business. This rating has decreased by -7% over the last 12 months.

According to anonymously submitted Glassdoor reviews, loanDepot employees rate their compensation and benefits as 3.8 out of 5. Find out more about salaries and benefits at loanDepot. This rating has decreased by -3% over the last 12 months.

61% of loanDepot employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated loanDepot 3.2 out of 5 for work life balance, 3.4 for culture and values and 3.6 for career opportunities.

According to reviews on Glassdoor, employees commonly mention the pros of working at loanDepot to be benefits, culture, career development and the cons to be work life balance, management.

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