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loanDepot Reviews
907 reviews
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Anthony Hsieh
644 Ratings
Pros
"And there were decoration contests around the holidays to make it a fun work environment" (in 52 reviews)
"They encourage a work life balance" (in 22 reviews)
Cons
"All In" means you need to protect work/life balance; frequent burnout amid IT teams" (in 53 reviews)
"I hear long hours but I feel that is based on perspective, not too long for me :)" (in 67 reviews)
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"Loan Processor"
StarStarStarStarStarI have been working at loanDepot full-time
Pros
They have a good work environment
Cons
it can be stressful at times
loanDepot 2018-11-09 21:57 PSTHelpful (1)
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"Internal Loan Consultant"
StarStarStarStarStar- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
Doesn't RecommendNegative OutlookI worked at loanDepot full-time (More than 3 years)
Pros
Strong company, could be a positive thing but they choose not to be
Cons
Management needs an overhaul and needs to reread handbook about respecting fellow employees
Advice to Management
Pay attention to your staff. They have the insight on the day to day dealings.
loanDepot 2019-02-21 08:13 PSTHelpful (3)
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"Hard to move up without knowing someone"
StarStarStarStarStar- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
Doesn't RecommendNegative OutlookApproves of CEOI worked at loanDepot full-time (More than a year)
Pros
Good money to be made (at the time) technology is good
Cons
I tried to interview and get into other departments where I have a MBA in and I was looked over several times. Too much politics.
loanDepot 2019-02-15 13:37 PSTHelpful (1)
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"Great Employees"
StarStarStarStarStar- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
I worked at loanDepot full-time (More than a year)
Pros
The company had great employees here...coworkers were very helpful and nice to work with...the best I've worked with at any job. There were company paid lunches for mid month and month end when it was busy. And there were decoration contests around the holidays to make it a fun work environment.
Cons
There was a discrepancy in the information being told/taught depending on which manager trained you. The program/software used to review files and fund had frequent glitches or technical issues that slowed down the work flow/day.
loanDepot 2019-01-29 16:24 PST![loanDepot Logo]()
"Great management"
StarStarStarStarStar- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
I worked at loanDepot full-time (Less than a year)
Pros
- great work environment
- great management
- occasional over timeCons
- dealing with angry customers a lot
- bad payAdvice to Management
nothing
loanDepot 2019-01-29 14:29 PSTHelpful (2)
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"Good money... bad for single parents"
StarStarStarStarStar- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
Doesn't RecommendNeutral OutlookApproves of CEOI have been working at loanDepot full-time (More than a year)
Pros
Money is great. Don’t get me wrong the pay is amazing. As far as they are set up for processing loans and getting them completed they are top notch. Their comp plan is spectacular.
Cons
It’s a 60 hour a week job and if your a single mom forget it. You will take an unlimited amount of crap when you call in sick to take care of your kid. Forget about personal days or vacation because you won’t ever get it approved because you took a day when schools were closed and didn’t have child care. Leaving because your kid gets sick at school? Nope better have a back up person or a back up job.
Advice to Management
Women can be good employees too. When I call out to take care of my kid it’s because I don’t have a choice. Sorry we aren’t all men.
loanDepot 2019-02-07 13:54 PSTHelpful (1)
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"Good employer"
StarStarStarStarStar- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
RecommendsNeutral OutlookApproves of CEOI worked at loanDepot full-time (More than a year)
Pros
Good training. Good managers
Cons
Quick to do layoffs when interest rates increased and volume decreased. Prefered speed and volume over quality underwriting.
Advice to Management
Provide better customer service over booking more businesses.
loanDepot 2019-01-22 23:27 PST![loanDepot Logo]()
"5 years & Never Happier"
StarStarStarStarStar- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
RecommendsPositive OutlookApproves of CEOI have been working at loanDepot full-time (More than 5 years)
Pros
Great comp. Inexpensive health insurance. Fast underwriting with NO OVERLAYS. We go by what the Findings say, so no IRS transcripts or tax returns unless self-employed; lots of appraisal waivers; no minimum tradelines; no minimum credit score if approve/eligible (520 minimum on manual approvals), etc., etc.
Cons
Not everyone has heard of us yet. But the name will catch on soon - doubling loan volume every year for 7 years.
Advice to Management
Go public, so I can buy some stock!
loanDepot 2019-01-22 10:36 PST![loanDepot Logo]()
"Great job for great LO's"
StarStarStarStarStarDisapproves of CEOPros
A ton of added incentive in addition to great pay and perks.
Cons
A little over the top but if you're a seasoned professional it shouldn't bother you,
loanDepot 2019-01-21 14:14 PST![loanDepot Logo]()
"Great company"
StarStarStarStarStar- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
RecommendsPositive OutlookApproves of CEOI worked at loanDepot full-time
Pros
Visionary concept of mortgage lending
Cons
You don't have a life outside of the office
Advice to Management
Provide a royalty from servicing to LO's.
loanDepot 2019-01-21 17:11 PST
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loanDepot Response
Nov 19, 2018 – Recruiting Manager
Thank you for taking the time to write about your experience as an employee at loanDepot. We appreciate your honest feedback!