loanDepot Reviews | Glassdoor

loanDepot Reviews

Updated February 21, 2019
907 reviews

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3.4
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loanDepot Founder and CEO Anthony Hsieh
Anthony Hsieh
644 Ratings

Employee Reviews

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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)

More Pros and Cons

  1. "Loan Processor"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at loanDepot full-time

    Pros

    They have a good work environment

    Cons

    it can be stressful at times

    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!


  2. Helpful (1)

    "Internal Loan Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook

    I 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.

  3. Helpful (3)

    "Hard to move up without knowing someone"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Account Manager
    Former Employee - Senior Account Manager
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I 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 Response

    Feb 20, 2019 – Recruiting Manager

    Thank you for sharing your experience. We’re disappointed to hear about your experience. We invite you to continue the conversation with us directly. Please feel free to email us at... More


  4. Helpful (1)

    "Great Employees"

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

    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 Response

    Feb 20, 2019 – Recruiting Manager

    We try to help everyone be successful and work hard to ensure people perform at their highest level. We’re sorry that loanDepot was not a good fit for you, and we wish you success in your next... More


  5. "Great management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Verification Specialist in Lake Forest, CA
    Former Employee - Verification Specialist in Lake Forest, CA

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

    Pros

    - great work environment
    - great management
    - occasional over time

    Cons

    - dealing with angry customers a lot
    - bad pay

    Advice to Management

    nothing

    loanDepot Response

    Feb 20, 2019 – Recruiting Manager

    We appreciate all comments, both positive and constructive, so thank you for taking the time to share your experience at loanDepot.


  6. Helpful (2)

    "Good money... bad for single parents"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Loan Officer in Foothill Ranch, CA
    Current Employee - Loan Officer in Foothill Ranch, CA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I 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 Response

    Feb 20, 2019 – Recruiting Manager

    We appreciate all comments, both positive and constructive, so thank you for taking the time to share your experience at loanDepot.

    We invite you to continue the conversation with us directly... More


  7. Helpful (1)

    "Good employer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Underwriter in Plano, TX
    Former Employee - Mortgage Underwriter in Plano, TX
    Recommends
    Neutral Outlook
    Approves of CEO

    I 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 Response

    Feb 20, 2019 – Recruiting Manager

    We appreciate all comments, both positive and constructive, so thank you for taking the time to share your experience at loanDepot.

  8. "5 years & Never Happier"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Loan Consultant in Nashville, TN
    Current Employee - Loan Consultant in Nashville, TN
    Recommends
    Positive Outlook
    Approves of CEO

    I 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 Response

    Feb 20, 2019 – Recruiting Manager

    Thank you for sharing!


  9. "Great job for great LO's"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Disapproves of CEO

    Pros

    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 Response

    Feb 20, 2019 – Recruiting Manager

    Thank you for the great feedback.


  10. "Great company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Mortgage Banker in Plano, TX
    Former Employee - Senior Mortgage Banker in Plano, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I 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 Response

    Feb 20, 2019 – Recruiting Manager

    We appreciate all comments, both positive and constructive, so thank you for taking the time to share your experience at loanDepot.

    Our leaders care deeply about our company, and always urge us to... More