Pros
only assets loanDepot has which they don't see as an asset is the people.
Cons
no raises ever, no training, treated rudely and in a threatening manner every day. unskilled processors with zero business presence I can now happily call myself a former employee. 5 yrs, Every time I thought , they just cannot get worse – they proved me wrong. There is some very good reason why employees are currently leaving in mass. You cannot treat your personnel with disdain and no respect and expect retention. Processing is largely untrained. The only training loanDepot has required of processing or underwriting in the 5 yrs I was there was federally required compliance. No training was offered or required to provide either with the skillset to do the job they were hired to do. In underwriting this is less of an issue proving you are dealing with an experience or at least a semi-experience underwriter. Since loanDepot hires extremely unskilled and inexperienced processing, there is a huge impact on the flow of the file from start to finish. If the only skillset a processor has is arguing, the file does not progress acceptable and the customer is impact. For five years, I was subject to the worst processing I’ve seen in the 30 years I have been in the mortgage industry. How upper management finds no issue with this I do not know. Managers are selected if they are present on location ie not remote and not talent. I could continue but since it will only fall on deaf ears, I will only advise those interest in pursuing a job at loanDepot to only do so if you are close to homelessness.
