loanDepot Reviews | Glassdoor

loanDepot Reviews

Updated August 15, 2018
841 reviews

Filter

Filter

Full-timePart-time

3.6
StarStarStarStarStar
Rating TrendsRating Trends
Recommend to a friend
Approve of CEO
loanDepot Founder and CEO Anthony Hsieh
Anthony Hsieh
601 Ratings

841 Employee Reviews

Sort: PopularRatingDate

Pros
Cons
  • "All In" means you need to protect work/life balance; frequent burnout amid IT teams" (in 51 reviews)

  • "Long hours but leads to unlimited income This review wants us to post 20 words for con I just can't think of any" (in 65 reviews)

More Pros and Cons

  1. "Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager in Southeast Owasco, NY
    Current Employee - Manager in Southeast Owasco, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at loanDepot full-time (Less than a year)

    Pros

    Great culture and technology. Anthony is a great Leader! People are friendly and always willing to help!

    Cons

    I don't have any at this time

    Advice to Management

    Continue doing what you're doing because it's working!

    loanDepot Response

    Aug 16, 2018 – Recruiting Manager

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


  2. "Best Mortgage Company Overall"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Licensed Loan Officer in Foothill Ranch, CA
    Current Employee - Licensed Loan Officer in Foothill Ranch, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at loanDepot full-time (More than a year)

    Pros

    Great compensation, reputable company, great leads and OT

    Cons

    I guess some other branches have other issues but I cant speak for them, the Lake Forest branch is amazing.

    Advice to Management

    I cant think of any, keep doing what you guys are doing

    loanDepot Response

    Aug 16, 2018 – Recruiting Manager

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

  3. Helpful (6)

    "It's a job, not a career"

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

    I have been working at loanDepot full-time

    Pros

    I've made some great connections with coworkers at the company.

    Cons

    Stagnant salary (haven't had a raise in years), not appreciated, communication is pretty bad (policies are sometimes not communicated leaving you to find out on your own) and unfortunately, senior-level management is very disconnected from their people.

    Advice to Management

    Work on communication first and foremost. Provide better training and help those looking to better themselves by helping with college expenses. Due to the merger of three distinct companies, enhance culture so there is greater unity.

    loanDepot Response

    Aug 16, 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


  4. Helpful (2)

    "They are Honest and They Pay Well"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Loan Officer in Scottsdale, AZ
    Current Employee - Mortgage Loan Officer in Scottsdale, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at loanDepot full-time (More than a year)

    Pros

    loanDepot ACES pays you to learn the material as opposed to studying on your own time and dime. Not only that, the training for the SAFE exam here in Scottsdale is OUTSTANDING. I had no experience and now I'm exceeding my own expectations month in and month out.

    loanDepot pays me more money to do basically the same job as most of my friends. Do I work harder than them? Yes. But do Doctors work more hours than Bank Tellers? Yep. And they get paid more, too.

    loanDepot actually makes you feel like you are being told the truth. In a sales job, where you make 250k+ per year if you put in the time and effort, it's not going to be easy. If it was easy, everyone would do it. The leadership never sugarcoats the difficulty, demand, or performance based reviews that come with working in any highly competitive sales environment.

    Things change in any industry, especially the mortgage industry. Honesty is everything.

    loanDepot’s VISION. loanDepot is a technology based mortgage lender, and the key is the TECH. loanDepot is investing tens of millions of dollars in making the consumer experience easy, and the point of contact more natural between loan officers and home owners. The new tech expected to be rolled out in 2018 sounds Amazing and the cool thing is I heard it from Anthony Hsieh himself, because loanDepot does CEO Connects regularly.

    The ability to partner with local Top 5% Real Estate Agents and then pair them with us Loan Officers for the mortgage on their purchase of a new home is exciting and already being tested by LO's!

    I've never worked at a place where I felt like I was paid equivalent to how hard I work, at loanDepot, I've had that feeling since the moment I wrote my first loan.

    Cons

    The same cons as any commission based job. There is stress in the months where you aren't performing as well as other months.

     You will be told where you stand, and sometimes, that isn't what you want to hear.

    You will spend less time with your family proportional to how much money you make. You will have to find the balance that works for you. But that's the price of nearly unlimited upside.

    Advice to Management

    Keep being honest about why changes are happening. If something is changing, keep having senior management deliver the message. It means more.

    Keep trying to stay ahead of the curve when it comes to technology. Technology is everything.

    loanDepot Response

    Aug 16, 2018 – Recruiting Manager

    Thank you for the great feedback.


  5. Helpful (1)

    "ACES GRADUATE"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Licensed Lending Officer in Scottsdale, AZ
    Current Employee - Licensed Lending Officer in Scottsdale, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at loanDepot full-time (Less than a year)

    Pros

    Absolute uncapped success. Great support. Overall couldn't be more than happy the company. They pay extremely well and the commission plan is very predictable. Nothing shady about it unlike a lot of companies. You have the potential to make life changing money here. If you're willing to put in the work and you have the skill then the sky is the limit.. Best part is, you have all the support you need. Managers and trainers are super helpful, respectful and they actually care. This has been the best career change by a long shot!

    Cons

    The work/ life balance is definitely the only downside but to be honest it's an expectation they come forward with in the interview and hiring process. They don't sugar coat anything, they tell it like it is. Besides, half a million dollars isn't going to just land on your lap.. This is a sales job and a numbers game. So it's up to you.

    Advice to Management

    Keep doing what you're doing!

    loanDepot Response

    Aug 16, 2018 – Recruiting Manager

    Thank you for sharing!


  6. Helpful (2)

    "Aces Loan Officer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Executive Lending Officer in Scottsdale, AZ
    Current Employee - Executive Lending Officer in Scottsdale, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at loanDepot full-time (More than 3 years)

    Pros

    Great work environment, a lot of opportunity for growth within the company and uncapped commision. I have been here for around 2.5 years and love every single day of work. The hours may be long but the environment they have created makes work very easy. Benefits are great as well.

    Cons

    A lot of hours are required to be successful in this role. The management team makes it very clear prior to being hired that long hours and time away from family and friends will be required.

    loanDepot Response

    Aug 16, 2018 – Recruiting Manager

    Appreciate the great feedback.


  7. Helpful (2)

    "Executive Licensed Lending Officer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Executive LLO in Scottsdale, AZ
    Current Employee - Executive LLO in Scottsdale, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at loanDepot full-time (More than a year)

    Pros

    The pay is great, life changing opportunity. Have in important role and you get to help amazing people across the U.S

    Cons

    Work a lot of hours but its fun working here so it goes by quick but you work more hours and get compensated more than enough. work more hours equals make more money

    Advice to Management

    Great leadership here at LD

    loanDepot Response

    Aug 16, 2018 – Recruiting Manager

    We appreciate you sharing your experience.

  8. Helpful (1)

    "LoanDepot"

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

    I have been working at loanDepot full-time (More than a year)

    Pros

    The culture and the people here are truly amazing. If you want to be a part of a true team led by someone who genuinely cares about his employees, then I say come to LoanDepot. This place has a positive atmosphere full of people that want to work hard and win. Hard work, effort, and a positive attitude go a long way here. The pay is great, all benefits are top notch, and the leadership is second to none.

    Cons

    The hours can definitely get draining at times and sometimes there are things that are out of your control which is why a positive attitude is definitely a must.

    loanDepot Response

    Aug 16, 2018 – Recruiting Manager

    Thank you for sharing!


  9. Helpful (2)

    "Loan Officer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Aces Graduate/Loan Officer in Scottsdale, AZ
    Current Employee - Aces Graduate/Loan Officer in Scottsdale, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at loanDepot full-time (More than a year)

    Pros

    Great company!!!!
    Leadership is 2nd to none. I just had the opportunity to meet with the owner and CEO himself in a intimate setting. He flew down here to AZ to meet with me and about 20 other employees. He wanted to know how things were going and to find out what him and his leadership team can do to help make the job even better than it already is.

    Training is AMAZING!!! KT ( our trainer ) provided world class training to help us succeed at the job. Not only did she help us all pass the license exam she made herself available 6 days a week incase we needed some additional help. I have friends at other loan companies and they confirm that the training they got was no where near the level or quality of the one we receive her at Loan Depot.

    Expectations are set in the hiring process. They flat out tell you that you will work hard here, but you will have fun and you will be family. This couldn't be more accurate. Money can be life changing if you apply yourself. I love the concept you get paid what your worth here.

    Cons

    Nothing to do with Loan Depot, but the market really plays a huge roll in this industry. LoanDepot has done a great job with adjusting and still putting its people in position to make money!

    Advice to Management

    Keep doing what your doing

    loanDepot Response

    Aug 16, 2018 – Recruiting Manager

    Great to hear. Thank you.


  10. Helpful (2)

    "ACES"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - ACE Team Member in Scottsdale, AZ
    Current Employee - ACE Team Member in Scottsdale, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at loanDepot full-time (Less than a year)

    Pros

    - opportunity to grow
    - opportunity to determine your own pay
    - positive work environment
    - continuous training to elevate skill set
    - just a great place to be!

    Cons

    I see no changes needed to occur

    Advice to Management

    Continue to grow and develop individuals who see the vision on LoanDepot

    loanDepot Response

    Aug 16, 2018 – Recruiting Manager

    Thank you for sharing!


Showing 841 of 845 reviews
Reset Filters