Disappointing - Senior Underwriter loanDepot Employee Review

2.0
May 21, 2019
Recommend
CEO approval
Business Outlook

Pros

The pay is decent with base, OT and bonus.

Cons

I love what I do, but am constantly frustrated by the fact that the processors are not trained to actually process the loans, but rather to push the files to underwriting to figure them out. The system has a communication portal in place, but many do not use it nor do they send emails explaining what changes they have made or what is new to the file. The crystal ball is a myth, and we are not mind readers. Many processors are new to the business, they are taught to argue over conditions. They do not read what they submit which causes many issues impacting the qualification of loans. Or they ignore conditions till the end of last submission (files are usually 4-8 touches by the underwriter) and then want the items waived. Why? Because they didn't do their jobs! The borrowers end up suffering for the poor job performance from the processing department.

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loanDepot Response
7y
Thank you for taking the time to share your concerns here. We will share your feedback with the team. We noted that you are a current employee, as well. We would be happy to discuss your concerns further if you would like. If so, please email us at wecare@loandepot.com. Thank you!

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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