loanDepot reviews

3.2

51% would recommend to a friend

(2,857 total reviews)
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Anthony Hsieh

66% approve of CEO

46% positive business outlook

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).

Reviews by job title

3K reviews
4.0
Dec 3, 2012
Recommend
CEO approval
Business Outlook

Pros

Fun environment and active company to be involved in but challenging. Always promoting from within. Managers and executives are always involved and are motivating. Great pay if you are motivated.

Cons

it's not just a normal 9-5 job. have to be dedicated to succeeding and putting in the effort of long hours and some weekends. Have to push yourself when you don't think you can anymore.

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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! Your Saturday idea is a great one and I'll be sure to pass that along to our Sales Leadership. - Tara
1.0
Oct 19, 2012
Recommend
CEO approval
Business Outlook

Pros

Fun parties, good co-workers. Nothing else.

Cons

They overwork you and don't have realistic expectations. They don't seem to take reality into account when creating goals. Medical benefits are poor and not competitive. They talk a lot about the culture they have but don't follow through with the values and ideals they promote.

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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. At loanDepot one of our Core Values is “Taking Care of Our People” and we demonstrate our commitment to this in a number of ways. We are a young company and being less than four years old, we still provide benefits that rival most in our space, and we're adding to our package all the time. In fact, we've begun 401k matching and have some great new and exciting benefits in store for 2014. We also try hard and have invested in our people via training. We have a comprehensive Learning Management System, fantastic classroom sessions, one-on-one coaching and we're building a more robust on-boarding training program now. It's important to us to ensure all of our team members have the tools to make them successful and have high, but realistic goals. Our average bankers earn in the six figures and our top performers earn significantly higher, consistently. The business and industry are competitive; and at loanDepot we tend to attract very high caliber mortgage bankers because we strive for Excellence, another of our Core Values. Again, thank you for taking the time to share your feedback and we apologize for not meeting your expectations as an employer. - Tara
5.0
Oct 19, 2012
Recommend
CEO approval
Business Outlook

Pros

I was pretty hesitant coming over in April, I had heard about the comp plan but it was so far from other plans being offered in the valley I was skeptical. Since I've joined it's been an amazing experience. The management team is exceptional; they're transparent with what's going on now, what the plans are for building out in the coming years and positioning for when the market changes. The pay is nothing short of ridiculous, plenty of bankers earning well over $20k monthly with no signs of slowing down. Over the six months I've been here lead quality has actually improved drastically and the average # of loans closed per banker has increased significantly. We're growing like crazy and everyone in this place is literally smiling all the time. I've never been a 'company guy', but I've bought into loanDepot, drank the KoolAid and I couldn't be happier.

Cons

Wish I had some covered parking, and would love to see some kind of stock options, although the company isn't publicly traded. We work HARD. It's long hours, but with rates this low I don't mind spending extra time here. We don't all come in early and/or work late because they make us do it or expect us to, it's because the bankers and processors here are the best around and are self- (and money-) motivated.

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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 so glad you "drank the kool-aid", I can relate! We are always evaluating our benefits package and began 401k matching this year and have some additional, exciting benefits coming for 2014. - Tara
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Glassdoor has 2,893 loanDepot reviews submitted anonymously by loanDepot employees. Read employee reviews and ratings on Glassdoor to decide if loanDepot is right for you.