Pros
Until they unexpectedly terminate your employment, you have an income.
Cons
Non-bank mortgage lender, loanDepot, has conducted a mass termination of employees at both its Plano, Texas and Foothill Ranch, California locations in possible violation of federal and state labor laws concerning layoffs. Regional satellite offices located throughout the U.S. were impacted as well. Approximately 130 employees were terminated at the Plano, Texas location alone; many of which occurred May 15th through May 17th, 2018. And, this secretive, possibly illicit, purge of unsuspecting employees is expected to continue. CEO/owner, Anthony Hsieh, has explicitly forbidden any employee to discuss this internally or disclose this publicly under threat of immediate termination. Shuttering of the entire Plano, Texas location and termination of all its resident employees is currently under consideration for the near future.
