Big Company, slow process - Mortgage Loan Officer Newrez Employee Review

2.0
Dec 8, 2021
Recommend
CEO approval
Business Outlook

Pros

Decent pay, access to some good tools, name recognition, acquired by New Rez recently, looks like they will right the ship

Cons

Bad and slow underwriting, underwriters inability to follow guidelines, and if there is a gray area, that is filled in by personal opinion, on an a occasion I reached out to HUD and received in writing the interpretation of a guideline, an underwriter wouldn't accept this. Inability to communicate with underwriting, slapped on the hand if more than 1 email was sent. Processing is overworked and overwhelmed, close dates are just a "suggestion" never met closing dates, Calibers threats of "non-competes" to every employer who quits, that they will come after you if you leave. Management will only step in to "fix" things after you hand in your resignation. I was told that I need to put my job 1st, that my family would always bet there for me, it was at that point that I was ready to quit

Explore other reviews about Newrez

5.0
Jul 5, 2026
Recommend
CEO approval
Business Outlook

Pros

I get to work remotely. They have a good retirement plan/401K. I work autonomously with very little oversight, meaning there's no micromanaging. They are great with holidays and time off. Very inclusive and socially aware. Those are two reasons I've remained employed by them.

Cons

The salary is lower than preferred. I've worked two years with zero pay increase because "no pay increases for remoter employees". The health insurance is lacking and not fantastic, but I'm not sure that's really a con since nearly every health insurance plan in America is lacking.

avatar
Newrez Response
3d
Thank you for sharing your feedback. We're glad to hear you value the time off and inclusive culture. We also appreciate your perspective on compensation and benefits. Feedback like yours helps us continue to evaluate and improve the employee experience.
2.0
Jul 1, 2026
Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

- Great work/life balance - Awesome coworkers - Lots of opportunities to try new things and be innovative

Cons

- Senior leadership does not value remote workers and doesn't get to know them/engage with them - Frequently lays off remote employees, regardless of performance, achievements, or job role, sometimes without offering options to move or relocate. They also on occasion use underhanded tactics to pressure remote employees to leave so they don't have to pay out severance. Lastly, unless required by your state's law, they never pay out your remaining time off - If you start underpaid, you will remain underpaid even after promotions - Job performance does not impact yearly bonuses/increases. Pay doesn't keep up with inflation

avatar
Newrez Response
4d
Thank you for sharing your experience. Your feedback matters, and we’ll make sure it’s reviewed by our team as we continue working to improve. We appreciate you taking the time to let us know your thoughts.
See reviews by: Helpful|Rating|Date|All