loanDepot reviews

3.2

50% would recommend to a friend

(2,857 total reviews)
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Anthony Hsieh

69% approve of CEO

47% 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
2.0
Jun 26, 2018

A lot of smoke and mirrors

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

The salary was excellent, the benefits were good, and the 401K is very generous. When they told me they were laying me off, the severance was also very generous.

Cons

My time with loanDepot started three months before they hired me, it took them that long to go through the interview process and get me onboard. While the recruiter was great at keeping me appraised of what was going on, it still took forever during which time I became reluctant to accept a role if offered. However, they came in with the highest salary, so I took the job. I was brought on to join a team that was growing quickly and was told that I would be managing my duties and reporting to someone who I had interviewed with but I felt did not like me in my interview. I was correct in this assumption. Instead of being trusted to do a job, I sat at a desk and begged for work to do. She was a lovely person, but incredibly protective of her work and did not share or hand anything off to me. I had no opportunity to sink or swim, to prove my worth. I felt from day one that I had been judged and found wanting without any actual proof of this. The management that I reported into was incredibly insular, I never once felt that I was a valued part of the team and that I was wanted. At the end of my tenure, I was laid off, which did not come as much of a surprise. My direct manager did not like me, did not want to work with me and did not need me. I received a generous severance, but then the two women I reported to directly gave me the cold shoulder, not speaking to me again for the remaining time I was with the company. I feel that as a company, that claims to want to "take care of our people," that this was an EPIC fail on the part of loanDepot. This treatment showed to me that it is a place where people are interchangeable and are not valued in any way shape or form. I would never recommend that someone work for this company, I was shown time and again that the company is not a place where anyone could or would want to grow their career.

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loanDepot Response
8y
We take our corporate culture seriously and it’s disheartening to learn that you didn’t find it to be a positive work environment for you. We strive to build a culture based on ethics, accountability, forward thinking and an entrepreneurial spirit. Your feedback will help us to continue to improve. If you would like to speak to someone about your experience, please email us at wecare@loandepot.com and we will set up a time to connect.
2.0
Jun 18, 2018

IT PMO: The Moral is Horrible!

Recommend
CEO approval
Business Outlook

Pros

There were pros back in 2017 when I first got hired, but even then it was not the greatest environment to work in. I am extremely happy for the things I learned in loandepot, it is unfortunate that the growth is so stagnant.

Cons

First of all, the politics here is horrible! I know most jobs have it, but this one is soo bad! The Management is the worst I have EVER seen. The reason is because only the most favorite of people get promoted, even if they do not have the proper training, or experience. Because of this Management seems to think they are invincible and can talk down on anyone they please. Luckily I was not treated poorly, but having to watch them treat others with disrespect was hard to swallow. Most importantly! The way they are laying off people is horrible! They are laying of people without any kind of notice at all! and with only two weeks severance, even for the people who have peen here 3+ years. But ohh if you ever quit, even with a two week notice, you are NEVER welcome back... The double standard is mind blowing. It makes me feel unappreciated and like we are all replaceable monkeys. Since I have put in my two weeks at least 4 people have as well. This has to say something about the way leadership is treating their people. F.Y.I loanDepot, if you wont accept me back, I wouldn't want to come back anyways!

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loanDepot Response
7y
Thank you for sharing your recent experience. We’re disappointed to hear about your experience. We invite you to continue the conversation with us directly. Please feel to email us at wecare@loandepot.com so that we can set up a time to connect.
1.0
Mar 5, 2019
Recommend
CEO approval
Business Outlook

Pros

They feed you all the time so you cant take a lunch and work through it.

Cons

The culture and environment is toxic. Managers can curse you in front of everyone. You are expected to stay until you find a loan or you cant leave. The CEO throws a fit when 42% of his employees give him feedback he doesn't like and states he will only give PRIVILEGES to those who deserve it. Meaning he can pay who he wants what he wants because he is a Billionaire. Hey Anthony maybe you forgot who got you there!!!!

Viewing 7 - 9 of 2,857 Reviews

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.