loanDepot Reviews in Scottsdale, AZ | Glassdoor

loanDepot Scottsdale Reviews

Updated December 4, 2017
81 reviews

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Scottsdale, AZ

4.1
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loanDepot Founder and CEO Anthony Hsieh
Anthony Hsieh
52 Ratings

81 Employee Reviews

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Pros
Cons
  • Work/life balance is the biggest challenge with this position (in 42 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 62 reviews)

More Pros and Cons

  1. "Executive Lending Officer"

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

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

    Pros

    Senior Leadership dedicated to not only the financial rewards for their team members, but constant attention to their growth within the company.

    On site processing and POD's that are extremely good at what they do.

    An atmosphere that makes you feel like the hard work required is both understood and appreciated.

    Cons

    My wallet hurts my back from all the money I'm making

    Advice to Management

    Continue the awesome promotions involving trips, raffles, etc.

    loanDepot Response

    Dec 4, 2017 – Employee Experience Team

    Thank you for adding your review. It's great to hear that you are doing well while helping customers accomplish their financial goals. Wishing you continued success!


  2. "Licensed Lending Officer Review"

    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

    Working at LD will change your life for the better, as it did for me. I have been here for almost a year now (full time).
    -Compensation (the compensation is well worth the amount of work you have to do.)
    - The Culture and outlook amongst the entire team (feels like Family)
    -Great management team to guide you and your business
    -Benefits
    -On going training

    Cons

    -Long hours (Usually is in this environment, not a bad thing if you want to have a good income though)

  3. "Licensed Lending Officer"

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

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

    Pros

    I have been with loanDepot 3 years. I started with the company with no mortgage background and the company has supplied me with the proper training to do my job, and do my job well. The culture within the Scottsdale location is truly unique. Very tight family environment that colleagues, managers, senior leaders all go above and beyond to show appreciation. The company pays wells for hard work, I couldn’t be happier to be part of the family.

    Cons

    I really don't have a specific downside. We are asked to come in and bust our tails in which we are rewarded for. If you don't like hard work or long hours, you may not enjoy my job.

    Advice to Management

    Continue supporting us to be successful.

    loanDepot Response

    Dec 4, 2017 – Employee Experience Team

    Thanks for this review. We are happy to have you as part of the team. Our Arizona branch is led by an incredible site leader, who like the rest of our leaders, truly care about your personal growth... More


  4. "Great company to work for."

    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 (More than a year)

    Pros

    I love working for loanDepot due to the structure here. Bad days are very easy to overcome at LD. Compared to other lenders in the industry, it's way less stressful to make a healthy paycheck here.

    Bad apples will get filtered out, and everyone has a common goal they are shooting for, so there's a lot of working together to make things happen

    Cons

    I really can't think of a con, the "bad" stuff is across all jobs - having to adhere to a somewhat strict schedule; etc.

    Some people complain about a tough work/life balance, but I have a child and a stay at home wife and am able to manage the balance with out an issue.

    Advice to Management

    Keep doing what you're doing so that LD Scottsdale is the best place to work in AZ

    loanDepot Response

    Dec 6, 2017 – Employee Experience Team

    Thank you for the great feedback! We truly value our employees and appreciate the time you took to leave a review about your experience!


  5. Helpful (5)

    "Bad benefits, dwindling morale"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Underwriter in Scottsdale, AZ
    Current Employee - Underwriter in Scottsdale, AZ
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    I enjoy my team and my manager. I’m asked for my feedback and see the direct results of my contributions. In general, other staff in my office are pleasant (granted, we were a smaller company up until last year). I’m paid within the salary range for my job and level of expertise.

    Cons

    PTO is among worst in industry - 3 weeks to cover vacation and sick

    Health Insurance - Plans progressively worse. Costs up, deductibles up (in my case by 25%), copays up (25% again), co-insurance up 5% (again, for my plan).

    Perks - Holiday Party was once a dinner and dress up event and is now small regionally constrained casual appetizers and a DJ

    The biggest con of growing up as a company is of course more distance and less care for workers - and we all need a job so the larger the company, the less they need to do - even in a competitive market. What has been taken away in the past year has made me go from raving about this company and recommending it, to it feeling like just another zombie factory to go to work, give the best while getting the minimum, and makes it less attractive to stay should I get more salary elsewhere - before, benefits more than made up for any salary concerns.

    Today, after seeing the new open enrollment stuff, I’m ready to come to work keeping a pulse on new jobs out there because LD is now just like any other big company now.

    Advice to Management

    Great people can do big things with just a little bit of happiness. Truly. So many people are excited about growth and charging forward in the industry... but not if it’s going to be like this. I guess... maybe make the benefits less worse next year? I know they can’t come back but a slow in the rapid decline would help morale. I wouldn’t have my sights anywhere else if not for these changes.

    loanDepot Response

    Nov 2, 2017 – Employee Experience Team

    First of all, we’d like to thank you for your tenure here at loanDepot. Honest feedback is the best way for us to improve as an organization.
    We do take care of our people and we would like to... More


  6. Helpful (5)

    "Not the same company it was"

    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
    Positive Outlook
    Approves of CEO

    I worked at loanDepot full-time (More than 5 years)

    Pros

    Great pay and great benefits. Made some great friends at this company.

    Cons

    Culture of the company is not what it used to be. Everyone used to be a big family and everyone used to help each other grow. Now the atmosphere of the company is hostile and untrusting. Everyone is looking over their shoulders and just wondering when, not if, they will be fired for any reason. Everyone is being heavily micromanaged by metrics and reports that management has lost the human element of our work and we're just a number on a spreadsheet.

    Advice to Management

    Relax. Listen to your employees' complaints and suggestions, not just brush them aside and say "That's just how it is." Let your employees run their own business and trust that they will do their job instead of treating them all like they are incapable of doing their job without some intervention from management. I've noticed long loyal employees struggling with production ever since this new micromanaging mindset has taken over. Happy employees will be more willing to produce.

    loanDepot Response

    Oct 23, 2017 – Employee Experience Team

    Thanks for the great review!
    Appreciate the fair suggestions for improvement. It is our continued goal to be a best in class enterprise, and your comments help us to achieve that goal.


  7. Helpful (6)

    "Missing the imortgage culture and people"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Scottsdale, AZ
    Former Employee - Anonymous Employee in Scottsdale, AZ
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at loanDepot full-time (More than 3 years)

    Pros

    Location and facilities are nice.

    Cons

    Benefits and compensation are below industry standards. Change in culture and management since becoming Loan Depot from imortgage is the reason why many have left. It's not employee friendly anymore.

    loanDepot Response

    Sep 13, 2017 – Employee Experience Team

    Thank you for your candid review. While there has been a period of transition, rest assured that we hold true to our value of taking care of our people. We would like to hear more about your... More

  8. Helpful (10)

    "All Talk. No Action"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Operations Staff in Scottsdale, AZ
    Current Employee - Operations Staff in Scottsdale, AZ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Casual dress code
    Hours
    Location
    Awesome team members/peers

    Cons

    How many reviews from operations employees do you have to see that say the same thing before you make changes? Pay attention to how most reviews from Operations employees are negative and most of the good ones are from sales!
    Benefits are awful, PTO and observed holidays are below industry standards, no raises? Apparently Mr Hsieh doesn't believe in them? No annual reviews. Bonus structure is horrible, does the CEO not believe in these either? Managers with NO leadership skills who interact rarely with their employees, Supposedly there was a new leadership program that was supposed to roll out in January, but as usual nothing ever materialized! "SpeakUp" is not anonymous and 9 out of every 10 requests/ideas are met with. 'Thanks but no thanks'. Employees are not kept in the loop and basically told to never look at the big picture, All of these cons make it very difficult to take our Core Values seriously as they just don't ring true.

    Advice to Management

    TRAIN management at EVERY level! Teach communication skills that motivate and empower employees. Allow employees to participate in discussions for changes instead of managers only. Understand that some of the best ideas are from employees who do the jobs every day, the executive mgmt here very much thinks they know it all and that things don't need changing! Maybe they should implement 360 degree reviews and more recognition! VERY disheartening as when we were iMortgage management actually cared and were engaged.

    loanDepot Response

    Jul 24, 2017 – Talent Marketing Social Media Strategist

    I'd like to congratulate you for your years with loanDepot. Your time spent with the company is valued. Thank you so much for sharing your experience with the company. While there are many ways we... More


  9. Helpful (4)

    "Underwriting Scottsdale /imortgage"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Scottsdale, AZ
    Current Employee - Anonymous Employee in Scottsdale, AZ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Have met some great people

    Cons

    More of a dictatorship management style then an inclusive. Micromanaging.
    Managers that don't always understand and don't try to understand. Lack of communication . Benefits are terrible for a company that wants to be #1.

    Advice to Management

    Have your employees be a part of decisions. Be more inclusive with employees.
    Employees sometimes have the best ideas as it's us in the trenches. You want the best then act like you have the best. Stop pointing out the negative There is always a silver lining help your employees see that feel that.
    That has been lost and good people are leaving for it.

    loanDepot Response

    Jul 27, 2017 – Talent Marketing Social Media Strategist

    Thanks for sharing your experience of working with loanDepot. We do strive to have some of the best people working for us, so it was nice to hear that you've met some great people here. That said... More


  10. Helpful (1)

    "Good place to work if you like money"

    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
    Neutral Outlook
    Approves of CEO

    I 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


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