loanDepot: Hiring, Background Check & Employment Verification FAQs

loanDepot, Inc. was founded in 2010 and is headquartered in Irvine, California. The company trades on the New York Stock Exchange under the ticker LDI. It operates as a non-bank retail mortgage lender, meaning it originates loans directly to consumers rather than through a deposit-taking bank, and it is licensed to lend in all 50 states. loanDepot is an approved seller and servicer for Fannie Mae, Freddie Mac, and Ginnie Mae, and it services a majority of the loans it originates.

The product set spans conventional agency-conforming and prime jumbo loans, government-backed residential mortgages, and home equity lines of credit and closed-end second liens. Alongside lending, loanDepot offers settlement services, real estate services, and insurance services, which lets the company support more of a home purchase or refinance transaction in one place. The company reported revenue of $1.06 billion for 2024, an increase of 9 percent over the prior year, with adjusted EBITDA of $84 million.

Technology has been central to how the company describes itself. loanDepot built a proprietary origination platform branded mello, and the company's trademark portfolio as of the end of 2024 included registrations for both the loanDepot and mello names. The workforce is organized around that model, with licensed mortgage loan officers and loan consultants at the front, supported by loan processors, underwriters, closers and funders, servicing and default specialists, title and escrow staff, plus corporate functions in technology, capital markets, compliance, finance, marketing, and human resources. Headcount at mortgage lenders moves with interest rates and origination volume, and published figures for loanDepot's employee count vary by source and reporting date.

Company culture and employee programs:

Loan officer roles at mortgage lenders are typically commission-driven or a mix of salary and commission, while processing, underwriting, and servicing roles are usually salaried. New loan officers generally need to complete pre-licensing education, pass the required examination, and obtain state licenses before they can originate, and continuing education is required annually to keep a license active. Operations roles involve substantial regulatory training, since mortgage lending is supervised at both the federal and state level. Benefits, compensation structures, and remote or hybrid arrangements vary by role and location, so candidates should confirm details during the hiring conversation.

Yes. Employers in the mortgage and financial services industry, including loanDepot, are legally permitted to conduct pre-employment background checks on job candidates as long as they follow applicable federal, state, and local law. In the United States, screening conducted through a consumer reporting agency is governed by the Fair Credit Reporting Act (FCRA), which requires a standalone disclosure, written authorization, and a pre-adverse and adverse action process. Mortgage lending adds a second layer, because federal law requires a criminal history check for mortgage loan originators as part of licensing and registration.

loanDepot is generally reported to conduct background checks as part of hiring, which is consistent with standard practice across mortgage lenders. Beyond employer policy, mortgage loan originators must go through a federally mandated criminal background check in order to be licensed or registered, so screening is effectively unavoidable for originating roles. The specific components of a loanDepot background check may vary by position, by state, and by whether the role requires licensing or access to borrower financial data.

Steps vary by role, but the loanDepot hiring process generally begins with an online application, followed by a recruiter screen and one or more interviews with the hiring manager and team. Loan officer candidates often discuss production history, referral sources, and licensing status during those conversations. A conditional offer usually follows, along with consent to background screening. Candidates for licensed roles then complete or transfer their registration in the Nationwide Multistate Licensing System and Registry, which involves fingerprinting, a criminal history check, and a credit report review. Onboarding, systems training, and compliance training follow once those requirements are met.

Turnaround depends on the searches ordered, how quickly courts and previous employers respond, and whether the candidate has lived in multiple jurisdictions. Many employment background checks come back within a few business days, while multi-state criminal searches, verification of a long employment history, or records requiring manual retrieval take longer. Licensing steps run on their own clock: fingerprint processing, state license approvals, and the review of any disclosed events can extend a start date well past the employment screening itself. For more on what drives timing, review background check turnaround times.

The employer determines which searches are included, and licensing authorities add their own. For a mortgage industry role, a background check may include some or all of the following:

Candidates should review the disclosure and consent documents provided during hiring and licensing to understand what applies to them.

The lookback period depends on the search type and applicable state law. Under the FCRA, consumer reporting agencies are generally restricted from reporting most adverse information older than seven years, with exceptions for criminal convictions in many states and for positions above certain salary thresholds. Licensing review is separate: mortgage licensing applications ask about specified criminal, financial, and regulatory events without a strict seven-year cutoff, and certain convictions carry statutory consequences for licensure regardless of age. Candidates for licensed roles should expect the licensing review to reach further back than a typical employment report.

loanDepot does not publish a detailed policy regarding applicants with felony records, and employer decisions of this kind are generally made case by case. In mortgage lending, the analysis is constrained by licensing law, because federal standards bar licensure for individuals with certain convictions, particularly felonies involving fraud, dishonesty, breach of trust, or money laundering, with defined time-based rules for other felonies. Outside those bars, and for non-licensed roles, factors such as the nature of the offense, elapsed time, and job relevance typically govern. Many states and cities have enacted "ban-the-box" laws that limit when criminal history may be requested during an application.

Candidates are asked to provide written consent before any employment screening begins, usually through a disclosure and authorization form. Expect to supply a full legal name, date of birth, Social Security number, and address history. Licensed roles require more: a complete residential and employment history, fingerprints submitted through the licensing system, authorization for a credit report, and answers to detailed disclosure questions about criminal, financial, and regulatory events. Accuracy matters more than usual here, since discrepancies between an application and a licensing filing can create delays.

The Fair Credit Reporting Act is a federal law governing how consumer reporting agencies collect, use, and share background check information. Employers must obtain written consent before ordering a report, must provide a copy of the report and a summary of rights before taking adverse action, and must give the candidate an opportunity to dispute inaccurate information before finalizing a decision. For a detailed overview of how the FCRA and Equal Employment Opportunity Commission guidance apply to employment screening, see this introduction to the Fair Credit Reporting Act (FCRA).

Under the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008, commonly called the SAFE Act, mortgage loan originators must be licensed or registered through the Nationwide Multistate Licensing System and Registry. The process requires applicants to submit fingerprints for a national criminal history background check conducted by the Federal Bureau of Investigation and to authorize the system to obtain a credit report. Applications also require detailed personal information, a multi-year employment history, and disclosure of prior criminal or regulatory actions. State regulators layer their own education, examination, and character requirements on top of the federal baseline, so a candidate licensed in one state may need additional steps to originate in another.

Running a personal background check with Checkr lets you preview what loanDepot may see and gives you time to identify potential inaccuracies before they affect your application. In one secure report you can review:

Create your report in minutes at Checkr Personal Background Checks. To present verified credentials to recruiters and hiring managers, build a free Checkr Profile.

Check your report status in the Candidate Portal. Or, visit the Checkr Help Center for FAQs, dispute steps, and to contact support.

The resources and information provided here are for educational and informational purposes only and do not constitute legal advice. Always consult your own counsel for up-to-date legal advice and guidance related to your practices, needs, and compliance with applicable laws.