Don't plan on seeing your spouse/girlfriend or boyfriend/children etc, if you choose to work at loanDepot. - Senior Mortgage Banker loanDepot Employee Review

1.0
Jan 25, 2012
Recommend
CEO approval
Business Outlook

Pros

You are required to make money. For the amount of time and effort that you must spend here, you will make money. If you're a single man/woman and want to do nothing but work for six months to a year before you're completely burned out, this could be the place for you.

Cons

Required: Minimum of 10-hour shift w/ extra time "strongly recommended". And don't forget about Saturdays. Required: Minimum of 4 hours of "talk-time" every day. Even if you submitted 2 loans the day prior, and are a top-producing agent, if you did not have 4 hours of "talk-time" you will not be assigned any leads the following day. They have even sent top-producers home for this to make a point. You are constantly reminded that the executives are "best-in-class" and you, as a loan originator, are very, very expendable. It doesn't matter what they may tell you in an interview, you will not be promoted. Know that any an all future mgmt positions have already been tapped.

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loanDepot Response
12y
We appreciate feedback both constructive and positive, so thank you for taking the time to share your experience. We do recognize that work/life balance is critical to employee happiness as well as productivity. We offer 15 days of PTO annually and more, based on tenure. Do we require you to work hard? Absolutely. It's a competitive industry and we are a competitive company. Our average Senior Mortgage Bankers earn into the six figures and our top performers earn significantly more, consistently. Just because you've locked two loans one day, doesn't mean you shouldn't want to have an even better day the next... and if that's your measure of success, then sales probably isn't the right profession for you. We have promoted, internally, 15 sales positions over the last two months. We absolutely promote from within, where applicable and for those who work hard to get promoted. Again, thank you for taking the time to share your feedback and we apologize for not meeting your expectations as an employer. - Tara

Explore other reviews about loanDepot

5.0
Jul 7, 2026
Recommend
CEO approval
Business Outlook

Pros

Lots of leads and support from management

Cons

More time to work on your leads instead of taking new ones

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loanDepot Response
2w
Thank you for sharing your feedback. We're glad to hear you found value in the lead opportunities and management support. We appreciate your perspective!
2.0
Jul 12, 2026
Recommend
CEO approval
Business Outlook

Pros

Work from home, loans get closed on time

Cons

They are not scared to fire pregnant women or to downgrade their job after maternity leave and pretend like it's the same job- it happened to me and at least one other employee

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