Great potential ruined by bad management - Loan Processor Newrez Employee Review

2.0
Oct 8, 2022
Recommend
CEO approval
Business Outlook

Pros

Great Technology and Automation (which can also be a con), Decent Benefits, Large Portfolio, in house services for title, appraisal, etc

Cons

If your company is acquired by NewRez/Rithm… RUN. Immediate paycuts, benefit changes (for the worse). Pay is significantly lower than several other companies. Commission structure is very complex and not adjusted for current market conditions. Upper management provides little communication and when they do it is read from a script and feels cold. Company seems to be leveraging the market/mortgage job market conditions to devolve working conditions as employees don’t have elsewhere to go Company is VERY focused on automation and assembly line style loan processing. This creates future job uncertainty, but also significant chaos as several hands are working the same file. Too many cooks in the kitchen spoil the broth.

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.

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Newrez Response
6d
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

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Newrez Response
1w
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.
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