loanDepot Reviews

Updated Aug 4, 2022

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Found 1,950 of over 1,969 reviews

3.3
54%
Recommend to a Friend
70%
Approve of CEO
loanDepot Founder and CEO Anthony Hsieh
Anthony Hsieh
1,242 Ratings
Pros
  • "How can I start about the best thing about working for loanDepot(in 176 reviews)

  • "Great work environment and friendly people(in 69 reviews)

  • Cons
  • "Long hours are required to make money(in 111 reviews)

  • "work-life balance can be a little tough(in 99 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

    What people are saying about loanDepot

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    Ratings by Demographics

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    1. 5.0
      Former Employee, more than 1 year

      At LoanDepot, You Are Tiny Cog In A Dark and Twisted Machine

      Jun 23, 2022 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      I met some good colleagues

      Cons

      CEO and Upper level management engage in potentially illegal activities and retaliate against whistleblower (See the NY Times article from Sep 2021) A very uncaring, cold culture from the high level Never received any performance review. I did my job and made them money so they could care less about my career or development. This is a dark, cold company. Frankly, full of money-hungry fools who prey on people's need for housing for profit. It's gross and I had to get out. They have mass firings over Zoom regularly. Just... no. Don't work here if you have a sense of morality.

      17 people found this review helpful

      loanDepot Response

      Recruiting Manager

      Thank you for sharing your commentary and feedback. We are glad to hear you were able to meet some great colleagues during your time at loanDepot. Should you like to discuss details of your experience further, please reach out to us directly at wecare@loandepot.com.

    2. 5.0
      Former Employee, more than 3 years

      Great place

      Aug 4, 2022 - Mortgage Loan Officer in Orange, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good pay, training, benefits, high energy sales

      Cons

      Hours and weekend mandatory required

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      loanDepot Response

      Thank you for your feedback. We appreciate your insight into our highly competitive compensation plans, best-in-class training program and high energy culture that continues to makes loanDepot an employer of choice! That being said, we are always looking to improve and will be sure to share your comments with leadership. For further conversation, we are here: wecare@loandepot.com.

    3. 4.0
      Current Employee, more than 3 years

      I love loanDepot!

      Aug 2, 2022 - Loan Consultant 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Technology is insanely wonderful. Management is involved with the success of all LO's at my branch. They are always available and we have a slew of products.

      Cons

      Nothing specific about the company. It's just a rough time in the business right now.

      Continue reading
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      loanDepot Response

      Recruiting Manager

      Thank you for your feedback and for sharing your experience with not only our state of the art tech, but your wonderful leadership team as well! We wish you continued success at #teamloanDepot!

    4. 5.0
      Current Employee

      Great company

      Aug 1, 2022 - Mortgage Loan Officer 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Training, marketing, branding and technology

      Cons

      Management can be a pain at times but they mostly do right. Sometimes extra trainings for non job related topics are cumbersome.

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      loanDepot Response

      Recruiting Manager

      Thank you for your feedback and for sharing your experience with our best in-class training! That being said we are always looking to improve and will be sure to share your comments with leadership. For further conversation regarding your experience, please reach out directly to wecare@loandepot.com.

    5. 4.0
      Former Employee, more than 3 years

      was good when mortgage industry was busy

      Jul 31, 2022 - Senior Account Manager 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      the pay was well if put the work to it.

      Cons

      mortgage business has gone down hill so I wouldnt apply.

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      loanDepot Response

      Recruiting Manager

      Thank you for your feedback as well as for pointing out our highly competitive compensation plans! Like all organizations in the lending industry, loanDepot is not immune to the current economic shifts. That being said, we remain positioned well to continue to serve our valued customers and support our amazing employees during these times. We are always looking to improve and will be sure to share your comments with leadership. For further conversation, please reach out directly to us at wecare@loandepot.com. We wish you the best of luck in your future endeavors!

    6. 5.0
      Current Employee, more than 1 year

      Great Company

      Jul 28, 2022 - Licensed Lending Officer 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      The company pays very very well

      Cons

      I love the company. No cons from my perspective

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      loanDepot Response

      Thank you for your feedback and sharing your experience regarding our industry leading compensation plans. We wish you continued success at #teamloanDepot!

    7. 5.0
      Former Employee

      Good company to work for

      Jul 28, 2022 - Mortgage 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great local team to work with.

      Cons

      Ops computer system was outdated

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      loanDepot Response

      Thank you for your feedback and for sharing your experience with the amazing people that make up #teamloanDepot! We are always looking to improve and will be sure to share your comments with leadership. For further conversation, we are here: wecare@loandepot.com.

    8. 4.0
      Current Employee

      Pretty good

      Jul 28, 2022 - Insurance Specialist in Los Angeles, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      The company is transparent about their goals

      Cons

      Training wasn’t great. Company want to get rid of remote positions.

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      loanDepot Response

      Thank you for your feedback and for sharing your experience around the companies transparent communication. We pride ourselves in every employee having direct access to leaders at all levels as well as real time updates on the direction of the organization. That being said we are always looking to improve and will be sure to share your comments with leadership. For further conversation regarding your experience, please reach out directly to wecare@loandepot.com.

    9. 5.0
      Former Employee

      Excellent Company!

      Jul 26, 2022 - Customer Lending Representative 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      You couldn’t ask for a better mortgage company if you are new to the industry. Loan Depot’s training is the most extensive training of any company in the mortgage industry for any position you are looking to pursue. Excellent work environment, great management, and comprehensive benefits!

      Cons

      Rigid hours. Flexible hours at Loan Depot or any mortgage company really is going to be rigid on your schedule. The only other thing I can think of is only due to the current fed rate hikes in 2022. The rate hikes have caused lay offs, training delays, and the pause of many promotional programs.

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      loanDepot Response

      Recruiting Manager

      Thank you for your feedback. At loanDepot, we pride ourselves on setting up our new-hires for success by putting them through a best-in-class training program while continually supporting them throughout their time with us! That being said, we are always looking to improve and will be sure to share your comments with leadership. For further conversation, we are here: wecare@loandepot.com.

    10. 4.0
      Current Employee

      grea

      Jul 25, 2022 - Loan Officer in Nashville, TN
      Recommend
      CEO Approval
      Business Outlook

      Pros

      good pay and great work environment

      Cons

      long hours and long days

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      loanDepot Response

      Recruiting Manager

      Thank you for your feedback. We appreciate you sharing your experience regarding our highly competitive compensation plan and the environment we worked so hard to build! We are always looking to improve and will be sure to share your comments with leadership. For further conversation, we are here: wecare@loandepot.com.

    Viewing 1 - 10 of 1,950 Reviews

    loanDepot Reviews FAQs

    loanDepot has an overall rating of 3.3 out of 5, based on over 1,969 reviews left anonymously by employees. 54% of employees would recommend working at loanDepot to a friend and 45% have a positive outlook for the business. This rating has decreased by -11% over the last 12 months.

    According to anonymously submitted Glassdoor reviews, loanDepot employees rate their compensation and benefits as 3.7 out of 5. Find out more about salaries and benefits at loanDepot. This rating has decreased by -7% over the last 12 months.

    54% of loanDepot employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated loanDepot 3.0 out of 5 for work life balance, 3.2 for culture and values and 3.3 for career opportunities.

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