loanDepot Employee Reviews
Out of 213 loanDepot employee reviews, 65% were positive. The remaining 35% were constructive reviews with the goal of helping loanDepot improve their work culture. The Operations team, with 83% positive reviews, reports the best experience at loanDepot compared to all other departments at the company. The Sales team offered the most constructive feedback, with 47% of that department's reviews constructive in nature.
What does the leadership team need to get better at?
How about carrying about the employees, that would be a great start. They make it appear that OT is optional, but the expectation is to work until it's all done and that means OT, and lots of it.
They all lack leadership skills .
Leadership should provide employees with performance reviews and training so people can grow. There is nothing worse than working for a company and not growing your slills. Leaders are responsoble for line level employees and should at least offer them a chance to better themselves ans enhance skil
Consider lower level employees as valued contributors to the money making machine. There are NO perks to most jobs, except just to be glad you have one. Stop telling employees to just quit if we don't like the manipulative rules. Remember that the CEO is not GOD.
Review from Operations Dept
Doing what they say they will do or not do as in sticking with the maximum number of loans in your pipeline so that success is possible and not overloading us so that we will fail to meet expectations on time limits. Not giving last minute loans that must close in impossible time frames.
Review from Operations Dept
Why do you feel undervalued and what would make you feel better about your compensation?
If the commission cap that's supposed to make the rates competitive actually worked and the rates were competitive
Being treated like a living human and not a number would be great.
Pay is ok thats about it
Employees who feel valued will continue doing their best work and beyond. Micromanaged, underpaid, burnt out employees who are made to feel as if their best is a complete failure and disappointment do not. They simply stop trying and give up
The bonus structure for the company is not a good one and could boost employee morale by modification with employee input/suggestions.
What do your coworkers need to improve and how could you work together better?
Unfortunately it starts at the top. They push is all to do so much, very quickly.... but don't make a mistake or you'll be written up
Due to COVID and working remotely there is little to no interaction. Even when we were in the office interaction was frowned upon.
Review from Operations Dept
Use the communication channels for work purposes and leave all of the extra communication not work related out of team channels. It bogs down the chat room an makes it difficult to find information when so much non-work related conversations are filling it up. Just have a seperate commnication on it
they need to work on closing loans not sending negative bullying hate filled emails
Review from Sales Dept
Too much personal complaining. They only promote the partiers...culture climate.
What needs to change to make the company culture better?
It's a toxic work environment that needs to change
Work life balance should exist
Review from Sales Dept
something in processing, because the good ones leave and the worst most miserable people are left to demolish loans.
Review from Sales Dept
Based off who you know not work ethic
What would you improve about your company's interview process?
They already have a person picked for the job
What's going wrong and how can it be improved?
Everything needs to be changed
I think if leadership doesnt care about employees the good ones will eventually leave. The company cant be successful of they dont treat their statf well. The CEO is very negative in company wide emails, threatens to fire teams and is condescending on town hall meetings.... which should be upbeat
Self-centered leadership is purely report and money-driven without any understanding of the process required of their specific industry.
Processing needs to be responsible for something, they need to have leaders that bring positivity and the moral needs to be lead by a real leader that can build the spirits of the team and not grow hate and discontent.
Review from Sales Dept
They say we call them non stop and wed be getting cussed out by alot of mad people
Review from Sales Dept
What would you most like to see improved at your company?
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