loanDepot Reviews | Glassdoor

loanDepot Reviews

Updated December 12, 2018
886 reviews

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3.5
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loanDepot Founder and CEO Anthony Hsieh
Anthony Hsieh
630 Ratings

Employee Reviews

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Pros
  • "They encourage a work life balance" (in 22 reviews)

  • "Positive work environment and endless lead supply" (in 49 reviews)

Cons
  • "All In" means you need to protect work/life balance; frequent burnout amid IT teams" (in 52 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. "Great company"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at loanDepot full-time

    Pros

    relaxed environment all of the time

    Cons

    pay could be a lot better

    loanDepot Response

    Oct 17, 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. "Senior account manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Account Manager in Scottsdale, AZ
    Former Employee - Senior Account Manager in Scottsdale, AZ

    I worked at loanDepot (More than 3 years)

    Pros

    Great compensation, friendly work environment, good training info structure

    Cons

    A lot of hours, management could use a little improvement

    Advice to Management

    Good management, however needs a little more training

  3. Helpful (4)

    "They like hiring lots of people then laying off"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations
    Former Employee - Operations
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Friendly regular everyday people you can meet anywhere.

    Cons

    Company gives false hope of a great future then lays off thousands, like a revolving door hiring and firing.

    Advice to Management

    Tell employees when layoffs are coming so that they can plan or start searching for new employment everyone has bills and responsibilities.

    loanDepot Response

    Dec 6, 2018 – Recruiting Manager

    We’re sorry to hear about your experience with our company. We will share your insights with our team so that we can continue to improve our corporate culture. If you would like to speak to someone... More


  4. Helpful (3)

    "typical mortgage business"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at loanDepot full-time

    Pros

    Pays well, good location, good people

    Cons

    Mediocre benefits; how employees are treated greatly dependent on how the mortgage business is doing. High turnover.

    loanDepot Response

    Dec 6, 2018 – Recruiting Manager

    Thank you for the feedback.

    loanDepot is a fast-growth and fast-paced company. We take pride in our culture, which is built on our core values, including “taking care of our people” and “ethics... More


  5. Helpful (8)

    "Perfect for people with no kids and top sales people"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Licensed Loan Officer in Scottsdale, AZ
    Former Employee - Licensed Loan Officer in Scottsdale, AZ
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    No cap on commission, unlimited overtime, can make really good money

    Cons

    In ACES, it is standard they fire all except the top people, most ACES do not make it to the floor. I made it to the floor and most my classmates were fired or quit. forced to work more hours than the 55 mandatory a week often getting an email right before you are scheduled to leave telling you YOU CANNOT LEAVE until you get a lock. be prepared for 12-15 hour days so people with families, you will not see them, this also applies to weekends, required 1 sat a month but they pressure you to work ALL THE TIME. NO SICK DAYS, your are written up if you call in sick, they want you to come to the office to see you are really sick!!! Im not lying, no work life balance. The money is NOT worth it!

    Advice to Management

    Need better work life balance

    loanDepot Response

    Dec 6, 2018 – Recruiting Manager

    We’re sorry to hear about your experience with us.

    At loanDepot, one of our core values is “taking care of our people.” We demonstrate our commitment to this in a number of ways. One example is by... More


  6. Helpful (3)

    "Much to be desired"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Neutral Outlook
    Disapproves of CEO

    I have been working at loanDepot full-time

    Pros

    Always have files to work on

    Cons

    Management is atrocious. You can't ask for help cause they tell you they're too busy or they have plans. any concerns you have and address higher up just get excuses made for their managers.

    Communication is non existent
    Not a set expectation from everyone
     Insurance benefits have gone up more every year.

    Advice to Management

    Talk to your teams. If they're unhappy and there's a common reason. Maybe it's time to re evaluate what you're backing.

    loanDepot Response

    Dec 6, 2018 – Recruiting Manager

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


  7. "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!

  8. "loan officer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Negative Outlook
    No opinion of CEO

    I worked at loanDepot full-time

    Pros

    friendly work environment, fair pay

    Cons

    I really cannot think of anything too bad.

    loanDepot Response

    Nov 26, 2018 – Recruiting Manager

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


  9. "Find a better company. Not good for loan officers."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Officer in Irvine, CA
    Former Employee - Loan Officer in Irvine, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Big company and benefits. Cool coworkers (non management)

    Cons

    They don’t care about you. You’re only a piece of the machine and you don’t matter. Also the pay could be better with all the money we make them.

    Advice to Management

    Treat people right and invest not just money and time in your people but invest in love and care in to your people.


  10. "Great Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at loanDepot full-time

    Pros

    Manager Mark Perez was THE BEST manager there...PERIOD!!! Really cared about the success of his team! Built a strong family environment that nobody wanted to leave! The overall environment was positive and upbeat! Loved my short tenure there!

    Cons

    Nothing much with the company. Just wanted to leave the industry. Making my way back to financial consulting sector side of the financial services industry.

    Advice to Management

    Keep doing what you're doing!

    loanDepot Response

    Nov 8, 2018 – Director of Social Media

    Thank you for the great feedback!