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FINANCIAL INDUSTRY NEWS
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Irvine-based online lender launches hiring blitz

LoanDepot.com wants to expand its Orange County office with 400 more workers.

BY JENNA SWEENEYPublished: October 13, 2010 09:53 AM

Since opening for business in January, Irvine-based LoanDepot.com has grown from 60 employees to more than 450 and opened a second office outside of Orange County. Now it wants to hire another 400 people for its local operation.

“We need honest ethical people who can deal with our clients in a forthright, clear and concise manner,” said Senior Vice President Peter Macdonald. “There are a lot of competent people out there looking for employment. We are providing them with that opportunity.”
 
The company is the brainchild of financial services expert Anthony Hsieh, who teamed up with Parthenon Capital Partners to create an online lending system that provides educational resources, low rates and fast closings. Hsieh’s previous entrepreneurial pursuits include the founding of LoansDirect.com (now part of E*trade) and HomesLoansCenter.com.  

LoanDepot.com’s innovative approach to direct-to-consumer mortgage banking might be the reason for its success. More and more people are turning to the web for advice and resources to aid their financial queries.

“In this day and age, the consumer gets a lot of financial information related to the financial crisis in newspapers, which keeps them up on financial literacy,” Macdonald said. “People want to know what is in their loan, and we are happy to do that.”

LoanDepot.com has been able to get loans to homeowners in half the time of a bank. The average application time for a funding through LoanDepot.com is 30 days.

The proactive approach to hiring makes LoanDepot.com significant in an otherwise stale job market.

LoanDepot.com provides comprehensive training for new hires. The company is looking to hire for multiple departments – from sales positions to loan processing.
Macdonald noted that experience is not necessary for employment.

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Readers Feedback:

These bozos took a month to get back to us about our refi. Made us pay for an bunk appraisal only to tell us 40 days later that our debt/income ratio was too high. Something they should have told us in the first week!
Comment at 10/13/2010
great company with a great tradition. i have worked with them in the past. great to read they are doing so well
Comment at 10/15/2010
They ripped me off. I was assured that I would get a refund if the loan didn't go through. all through the process they reassured me that it was practically a done deal. I increased the insurance on my house, faxed in many many pages of documentation. I ended up spending over $1000.00 to get everything up to par for their requirements, and in the end when it didn't work out (the reason was I work for a technology placement firm so my job is classified as temp work) They left me hanging. their website says they return your message within 24 hrs. It's been over a week. I'm not holding my breath. They also changed their tune on the refund.
Comment at 11/1/2010