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loanDepot Reviews
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Full-time Part-timeApprove of CEO
Anthony Hsieh
393 Ratings
Pros
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Loan Depot is the 2nd largest non banking institution in the Nation and has grown exponentially within 7 years (in 36 reviews)
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This company is not only a great work environment, but I consider them family (in 29 reviews)
Cons
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Work/life balance is the biggest challenge with this position (in 34 reviews)
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If you don't like working long hours or Saturdays, loanDepot isn't for you (in 51 reviews)
- Featured Review
Helpful (6)
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"Amazing management and corporate culture"
Star Star Star Star Star- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
RecommendsPositive OutlookApproves of CEOI have been working at loanDepot (Less than a year)
Pros
Simply a fantastic company to work for. Its the corporate culture and management that make it a great place to work. I highly recommend the ACES program. The program gives you the tools necessary to be a successful mortgage banker. I have now been on the sales floor for over 1 month have done very well due to the support by ACES and the management. I highly recommend Loan Depot and the Mortgage Banker position.
Cons
This position requires a lot of time and dedication; however, if you're willing to put in the work, you will see the fruits of your labor ($$$)!
Advice to Management
Keep doing what you're doing. You're very supportive, helpful, and motivating.
loanDepot 2016-06-07 08:18 PDT -
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Helpful (1)
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"Love it, except for the PTO"
Star Star Star Star Star- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
RecommendsPositive OutlookApproves of CEOI have been working at loanDepot full-time (More than 3 years)
Pros
Coworkers are friendly, office building is great, I enjoy the work I do, medical benefits are great, the environment is not stale - people always moving, trying to innovate or do things different. The CEO is engaged, and I feel like I generally have a good grasp on how the business is performing. My manager is very good and I think that makes the biggest difference at a job.
Cons
The PTO package is by far the worst I have had with any company in 15+ years. It really does not match with any of the other benefits. I worked with an acquired branch of the business and we had a PTO benefits package in line with the same old same old at every company. I have a disability and unfortunately losing a week of sick time (meaning I now take out of what used to be vacation time) has really impacted me. For normal healthy folks a 15 days PTO to include all Vaca/Sick may work well. I work very hard, and I work through whatever and my sick time was never taken to have a good time somewhere and having that safety net ripped away was hard.
Advice to Management
None really; I interact with a good group of cross department managers and they each have their personalities but are overall great. Please advertise your volunteer match program a bit more - I ended up informing folks I knew and for whatever reason none of us saw it come out. There are a ton of people who work at LD who are in to all kinds of volunteering and Id love if we could organize fundraisers or events in the Scottsdale office a little more.
loanDepot 2017-05-20 23:37 PDT -
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"Good place to work if you like money"
Star Star Star Star Star- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
RecommendsNeutral OutlookApproves of CEOI have been working at loanDepot full-time (Less than a year)
Pros
The entire sales floor makes BANK!!
Cons
Very strict with quota, a lot of hours
loanDepot 2017-05-16 14:59 PDT -
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"Loan Officer"
Star Star Star Star Star- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
RecommendsPositive OutlookApproves of CEOI have been working at loanDepot full-time (More than a year)
Pros
Fast growing industry leader. Massive capital investment. On the technological vanguard of the industry. Will be best in class in 5 years or less
Cons
Growing pains. Closely held. Recent merger makes identity confusing. Must have individual state licensure
Advice to Management
Keep doing what you are doing. Improve the online reputation (Yelp). Close loans faster on the direct to consumer side, and not just for the top 20 producers.
loanDepot 2017-05-12 13:46 PDT -
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"Licensed Lending Officer"
Star Star Star Star Star- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
RecommendsPositive OutlookApproves of CEOI have been working at loanDepot full-time (More than a year)
Pros
Company focuses on getting you paid. They really want you to succeed. They are about the bottom line but without micro managing the LLO. They let you feel like this is your own business
Cons
Market is slow right now, not LoanDepot fault but they still hold you accountable for you goals and if you don't hit your goals, they will let you go by the 2nd month you don't hit goal.
Advice to Management
Generally, I think almost everyone that employed at LoanDepot loves the company and has fun being at work.. I see this, as a career. Therefore i see myself being with LoanDepot for years to come. The only thing that i think is missing here is an improvement program to the LLO that are not doing good for a month or 2. Instead of getting let go, i wish there was a program to really get to the core why some LLO are struggling. :)
loanDepot 2017-05-12 09:09 PDT -
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"All In for thier people!"
Star Star Star Star Star- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
RecommendsPositive OutlookApproves of CEOI have been working at loanDepot full-time (More than a year)
Pros
One of the best compensation packages I have seen in this industry. Lead flow and warm transfers are great. Never hungry for another client to speak with. Processing has been improved to the point where many loans are closing in less than 25 days.
Cons
Some team members have a negative outlook and are a poor reflection of those that want to succeed.
loanDepot 2017-05-08 06:10 PDT -
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Helpful (8)
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"Lending Officer"
Star Star Star Star Star- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
Doesn't RecommendNegative OutlookApproves of CEOI have been working at loanDepot (More than a year)
Pros
The potential for a lot of money, if you can survive the cuts and constant fear of being let go if you don't "+1" daily.
Cons
Say goodbye to work balance, your kids, and physical health, and a life outside of the office. Managers pressure you to work late daily, Saturday's if you're not the top producer. Life balance is not an option in the first years for the company. Single? Straight out of college? Great job. Any outside responsibilities, better hope your spouse can handle it all... I've been here 2 years now and finally posting this.
Advice to Management
Instead of sending emails always pointing out that some people have lower production, spend the same amount of time evaluating why and ACTUALLY TRY to TEACH people. Very poor ongoing training. Sometimes, to move faster, you must first SLOW DOWN.
loanDepot 2017-05-08 21:41 PDT -
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Helpful (6)
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"Micro Management Good Processor does not mean Good Mgr"
Star Star Star Star Star- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
Doesn't RecommendNeutral OutlookNo opinion of CEOI have been working at loanDepot full-time (More than a year)
Pros
Great people, nice facility, good location and competitive salary for Processors. Casual dress code Work load is average and you learn to balance work/life
Cons
People afraid to speak out. They don't want to loose jobs. Manager micro manages and no words of encouragement. Poor management and lacks respect for employees. I, along with 2 others on my team looking for new position elsewhere
Advice to Management
Micro Mgrs do not make a friendly work place. Re-evaluate your Mgrs.
loanDepot 2017-05-04 07:55 PDT -
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Helpful (1)
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"if you want a work only life and lot of $$ this is your place"
Star Star Star Star Star- Work/Life Balance
- Culture & Values
- Career Opportunities
- Comp & Benefits
- Senior Management
RecommendsPositive OutlookApproves of CEOI have been working at loanDepot full-time (More than a year)
Pros
great company and learning environment. they will teach you through their ACES program how to be a mortgage banker and pay you $8 and then commissions. you HAVE to want to work 60 hours a week. if not, don't even bother
Cons
long working hours and perform very well every month
Advice to Management
great work and loan depot is the best!
loanDepot 2017-04-20 22:00 PDT -
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Helpful (2)
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"Knowledge"
Star Star Star Star StarI worked at loanDepot full-time (More than 3 years)
Pros
Having knowledge is important and management lacks experience which means you need to know and research even more. Learn more.
Cons
Volume is low and attitude is high
loanDepot 2017-05-02 15:35 PDT
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loanDepot Response
Nov 23, 2016 – Director of Talent Acquisition
Thank you for your feedback! We are happy to hear of your success here at loanDepot. ACES is an intense training program that teaches you mortgage from the ground up, once you graduate, the sky is the limit, and the best part is, you are helping homeowners achieve their dreams. We wish you continued growth and success here at loanDepot! The loanDepot Team ... More Less