Lender Summary
loanDepot is the nation's fifth-largest retail mortgage lender and second-largest nonbank consumer lender. Based in Orange County, California, loanDepot was the first nonbank lender to offer home, personal and home equity loans. In 2017, the company surpassed $110 billion in funding – just seven years after its founding. Committed to developing emerging financial technologies and dynamic product-delivery systems – with excellent customer service – loanDepot has grown from about 60 employees in 2010 to more than 6,000 in seven and a half years. This number includes 1,700+ licensed loan officers who hold 12,000+ licenses. Additionally, the company operates 180+ local loan locations nationwide.
Can't even get a quote without a dog and pony show
Did not move forward with these guys. I submitted info on line to try and get quotes for a cash-out refinance. (A despicable process btw, Lending Tree- there's got to be a better way.) I was bombarded with phone calls. LoanDepot was particularly tenacious. I talked to at least 5 different people (they seem to pass your phone number around to a new person every day) and kept being told they would be able to get me a great deal but none of them would put a loan estimate in writing. At one point someone called and said said they were having some kind of 'special promotion' and it was only for a day. When I asked for rates and costs on the phone each person I spoke with did a total shuck and jive and assured me they could get these great numbers (I had a competing written estimate and was trying to see if they would match or beat). Each person also kept saying before they could give me any details they'd have to go talk to their manager. They were all fast talkers and giving me the hard sell but wouldn't put anything meaningful in writing. I felt like I was buying a used car. If they don't work on commission what the heck is with the battering ram sales style? They really wasted a lot of my time when I could have been making some progress with a more professional outfit. I would never use them and would not recommend them at all.
Megan from SAINT PETERSBURG, FL
Reviewed in November 2019
Loan Type:
RefinanceReview Type:
Lender Review
GREAT EXPERIENCE
My process was easy, fast, and exciting. Everyone was very helpful and knowledgeable. I would love to use loan depot again.
Rasheed from UPPER DARBY, PA
Reviewed in November 2019
Closed with Lender:
YesLoan Type:
Home PurchaseReview Type:
Lender Review
Great Experience
Shawn was great, helped us out tremendously and will highly recommend and do business with again!!!!
Larry from Chino, CA
Reviewed in November 2019
Closed with Lender:
YesLoan Type:
RefinanceReview Type:
Loan Officer ReviewLoan Officer:
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