Time Off and Holidays
Time off can be used for a variety of purposes including vacation or personal days, when you or a family member is ill, or for any other reason. Many full-time employees are eligible for time off. If you are unclear about your eligibility, please refer to your offer letter or contact your Human Resources manager.
In addition to your PTO, loanDepot offers the following paid* holidays in 2025 effective your first day of employment.
*Employees will be paid for the scheduled number of hours they typically work for each Company holiday. Holidays will not be considered as time worked for purposes of calculating overtime.
**Employees must receive manager approval prior to taking a floating holiday. Floating holidays must be used within the same calendar year and will not roll over to the next year.
The amount of PTO an hourly employee can accrue is based on length of service with loanDepot. PTO will stop accruing once an employee has reached the maximum accrual cap; once the balance has fallen below the accrual cap, an employee will resume accruing time each pay period. All unused accrued PTO will rollover into the next calendar year. Please review the table below detailing accrual levels and maximum caps for full-time employees. PTO does not accrue during leaves of absence or other periods of inactive service.
Note, employees transferring from a non-exempt to exempt or commission only position, the accrued PTO balance will be paid out to the employee on the effective date of the transfer to the exempt/commission only role. Should the employee move back to a non-exempt position, PTO will start accruing from a zero balance.
Under loanDepot policy, all exempt employees are eligible for flexible time off under the DTO policy. Time off is similar to PTO in that it must be documented in Workday and is subject to your leader’s approval. Unlike PTO, there is no accrual of hours – exempt employees use time as needed/approved by leadership.
Eligible full-time employees will have 16 hours of Volunteer Paid Time Off (VPTO) that can be used to support approved charitable or community organizations in your neighborhoods. Part-time employees will receive 8 hours of VPTO.
VPTO must be requested in Workday 30 days in advance and is subject to a manager's approval. VPTO hours do not rollover to the next year and will not be paid out upon separation from the company.
Here’s how it works:
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Eligibility begins at 6 months of employment.
Hours can be applied to any entity recognized by the IRS as a not-for-profit (Search Here).
VPTO hours must be requested in Workday in advance; managers will approve the request to ensure proper work coverage.
Workday will collect the following information to monitor usage:
Number of hours requested (minimum of 2-hour increments).
The Employer ID of the not-for-profit organization.
A short description of the volunteer assignment.
VPTO for hourly team members will be calculated based on hourly wage only (no commission).
VPTO allotment runs on a calendar year; team members must use them or lose them by Dec. 31st. Unused hours are not paid out upon termination.