loanDepot Reviews in Scottsdale, AZ | Glassdoor

loanDepot Scottsdale Reviews

Updated May 20, 2017
71 reviews

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Scottsdale, AZ

4.4
Star Star Star Star Star
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loanDepot Founder and CEO Anthony Hsieh
Anthony Hsieh
44 Ratings

71 Employee Reviews

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Pros
  • Loan Depot is the 2nd largest non banking institution in the Nation and has grown exponentially within 7 years (in 36 reviews)

  • This company is not only a great work environment, but I consider them family (in 29 reviews)

Cons
  • Work/life balance is the biggest challenge with this position (in 33 reviews)

  • If you don't like working long hours or Saturdays, loanDepot isn't for you (in 51 reviews)

More Pros and Cons

  1. "Good place to work if you like money"

    Star Star Star Star Star
    • 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


  2. "Licensed Lending Officer"

    Star Star Star Star Star
    • 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

    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. :)


  3. "Love it, except for the PTO"

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

    I 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.


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  5. Helpful (4)

    "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
    Current Employee - Mortgage Loan Processor in Scottsdale, AZ
    Current Employee - Mortgage Loan Processor in Scottsdale, AZ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I 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 Response

    May 5, 2017 – Director of Talent Acquisition

    We appreciate your feedback. It is unfortunate that you and your colleague are looking elsewhere. Retaliation is not in our DNA, and are concerned to hear this. Our employees have the ability to ... More


  6. Helpful (7)

    "Executive Management are incompetent"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Underwriter II in Scottsdale, AZ
    Former Employee - Underwriter II in Scottsdale, AZ
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

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

    Pros

    Salary was good. Co workers were awesome. Just not good enough to overcome the cons

    Cons

    Upper management is a joke. In operations they treat staff and their front line managers poorly.
    Benefits and PTO are a joke for a company this size

    Advice to Management

    Promote executive managers that have actual people, team building and motivation skills. People who actually enjoy mentoring and letting employees thrive.
    And to the CEO: pay attention to your operations staff. Sales and tech are not the only important employees.

    loanDepot Response

    Apr 19, 2017 – Director of Talent Acquisition

    I am so sorry to hear about your experience, is there a way we can reach out to you to discuss further? If you are open to a discussion, please email us at wecare@loandepot.com The loanDepot Team


  7. Helpful (1)

    "If you have a strong work ethic & motivated to help people. -- This job is for you"

    Star Star Star Star Star
    • 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 (Less than a year)

    Pros

    This job is perfect if you are hungry to make money and help people.
    They provide the leads - you just need to earn their business
    Unlimited income potential 100k - Top guy named the machine 1.2Million
    The harder/smarter you work the more money you can make.
    Management lets you work - if you have questions they answer them, then you go back to work its perfect.
    I wish I would have found this company 5 years ago.
    You are in control of your destiny

    Cons

    If you do not stay on top of your business, it can feel overwhelming and stressful.

    Advice to Management

    Keep doing what you are doing - I enjoy coming into work.


  8. Helpful (1)

    "Great Culture and Environment"

    Star Star Star Star Star
    • 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

    since day one, any person I've talked to , or with around the office no matter how tenured or position is always eager and happy to help with anything you need. Everyone's here to be successful and helping each other get there.

    Cons

    I wouldn't say I have any cons with the company in it self.

    Advice to Management

    keep doing what your doing, helping us grow and learn more. willingness to help


  9. "Licensed Lending Office (ACES)"

    Star Star Star Star Star
    • 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

    I have worked for several sales companies in the valley and none that take care of their employees as well as loanDepot. Beyond your paychecks they are there to make sure you succeed.

    They have a very good training program that puts you on the right path to success. From someone having no mortgage experience prior I sure feel like I have gained a vast amount of knowledge in the short time I have been here.

    Cons

    I couldn't think of anything in particular. Great pay, good benefits, excellent atmosphere and great people surrounding you is all you need to know! If I had to pick one thing to prepare you for a fun ride than I would say that you MUST be willing to WORK HARD! Good things don't come to those that wait here. Go out and get after it!!

    Advice to Management

    Don't change a thing!


  10. Helpful (2)

    "Put customers in better financial situations by refinancing their mortgage or an unsecured personal loan."

    Star Star Star Star Star
    • 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

    The culture is the #1 thing that is important to myself and loanDepot. Great management team, all grinders. They are in the trenches with you to help you build your pipeline and paycheck. It is a GRIND, so don't expect to come in and start making booku bucks right off the bat. But this is the best example of "you reap what you sew" type of job. Hardwork and Dedication is the key to success here and everybody in this building/company are always willing to help you exceed your goals.

    Cons

    If you don't like working long hours or Saturdays, loanDepot isn't for you.

    Advice to Management

    Keep up the great work and never stop pushing us to be better at our craft. I like the interview process, its a tough process, which it should be. but I think it should be a little tougher to get hired. It will help eliminate cost that is spent on bankers that don't last the 6 months.


  11. Helpful (2)

    "Processor"

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

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

    Pros

    Amazing work environment, really enjoy working with my team and leaders. Everyone knows what to do and is professional about things but it's not a stuffy work place at all. Everyone's having a good time, making decent money, working hard and getting out of everyone else's way. Company is set up for long term success.

    Cons

    I've changed jobs a lot over the last 4 years and this is by far the best one I've had in that period.

    Advice to Management

    Keep doing what you're doing.


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