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loanDepot

Engaged Employer

loanDepot reviews

3.2

51% would recommend to a friend

(2,857 total reviews)
avatar

Anthony Hsieh

66% approve of CEO

46% positive business outlook

Ratings by category

3.5

Diversity & inclusion

3.3

Compensation and benefits

3.2

Culture & values

3.2

Career opportunities

3.1

Work/Life balance

3.0

Senior management

loanDepot has an employee rating of 3.2 out of 5 stars, based on 2,857 company reviews on Glassdoor which indicates that most employees have a good working experience there. The loanDepot employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Ratings by demographic groups

Reviews by job title

3K reviews
5.0
Sep 23, 2013

One of the Best Places to work.

Senior loan processor
Recommend
CEO approval
Business Outlook

Pros

Great company with great people.

Cons

Could do a better job of training personnel

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loanDepot Response
12y
Thank you for taking the time to write about your experience as an employee at loanDepot. We appreciate your feedback! We are glad that you think our company has great people, we certainly think so too! With regard to our training, specifically for Processing, you've probably noticed that we've rolled out on-going monthly "refreshers" recently. These will only continue to grow in both scope and frequency, so keep your eyes on loanDepot University for upcoming opportunities. In addition, we have re-imagined our New Hire Processing training to be less technical and more practical, in addition to a brand new On-Boarding experience that provides comprehensive weekly training during your first 90 days and then opportunities up to six times a month, thereafter. We are always striving to improve, so we genuinely appreciate you feedback! - Tara
5.0
Aug 1, 2013

ALL IN, welcoming, professional atmosphere.

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

loanDepot prides itself not only on having excellent customer service, but on going above and beyond to ensure the happiness of their employees. loanDepot was voted one of the Top Workplaces in 2012 by the OC Register and I can certainly understand why! I have been an employee at loanDepot for 9 months and have greatly experienced the company's "ALL IN" spirit, sound principles, and devotion to it's customers. All around amazing company!

Cons

None that I have experienced.

avatar
loanDepot Response
12y
Thank you for taking the time to write about your experience as an employee at loanDepot. We appreciate your feedback! We do pride ourselves on our Customer Service, so much so, that one of our Core Values is "Customer Care". It's so great to read that you see us walking the talk. Thanks for mentioning one of our Top Workplace Awards. We were named one of the Top Workplaces in Orange County by the OC Register. Our CEO, Anthony Hsieh was also named the top CEO in Orange County. Most recently the OC Business Journal named us as a Top Workplace as well. We certainly wouldn't be if it weren't for the hard work and dedication of our employees and the solid leadership team we have in place. Thank you again for sharing your experience! - Tara
1.0
Jan 25, 2012

Don't plan on seeing your spouse/girlfriend or boyfriend/children etc, if you choose to work at loanDepot.

Senior mortgage banker
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.

avatar
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
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