Newrez reviews

3.5

61% would recommend to a friend

(1,496 total reviews)

Baron Silverstein

69% approve of CEO

60% positive business outlook

Newrez has an employee rating of 3.5 out of 5 stars, based on 1,496 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Newrez employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

1K reviews
1.0
Feb 7, 2023

Horrible Management = Unhappy Employees

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

If you're a white man, you'll probably get hired.

Cons

1. Replaced most of the women in charge with men by laying them off & changing the title by a single word. 2. Laid off almost all people of color 3. No merit increases for 2023 & yet 71 job openings??? 4. No bonuses for only a couple roles, the rest get them 5. Told people they can leave if they cannot make it into an office (so the company doesn't have to give severance and can replace them with people in office) - imagine how good that makes an employee feel that they are immediately replaceable 6. Horrid communication, everyone is constantly confused on protocol 7. Doubled insurance cost with no actual change to benefits The amount of people who left for other companies should be pretty self-explanatory.

1.0
Oct 7, 2022
Recommend
CEO approval
Business Outlook

Pros

Did a mass hiring and gave decent pay.

Cons

Did a mass firing. Team leads are not professional and when you ask questions they give attitudes. Underwriters work against you rather than with you to help borrowers. Management will say you’re doing good but then turn around and lay you off. They will also put you on a performance plan and say “you have (ex. 30 days) to improve but once you start improving , they will review you in 15 and say it’s not good enough, so they can have a reason to terminate you. Also received a letter in the mail by a law firm stating that due to the mass firing a lot of employees claimed they didn’t get paid their overtimes and they’re now facing a law suit. Please note: this was a claim so not concrete, but ask yourself, how many employers did you know that you worked for, has been sued and you received a letter to validate? So you be the judge on how this company stands.

2.0
Aug 25, 2022
Recommend
CEO approval
Business Outlook

Pros

Competitive salary Work from home

Cons

This place heavily micromanages you like you wouldn't believe. I get having a distraction free work space is important, but they will mark you as "unprofessional" for EVERYTHING. Car driving by your house and the phone can hear it? UNPROFESSIONAL! Kid cried in another room and you can just make it out on the phone recording? UNPROFESSIONAL! Did you take a sip of something or swallow too loudly when on the phone? UNPROFESSIONAL! Did the garbage truck just pick up the garbage in your neighborhood or a motorcycle drive by? UNPROFESSIONAL! Did the call end and you sighed? UNPROFESSIONAL! (Yes, they record your microphone AFTER the call and even all the time, but we'll get to that) Good luck getting your QA score high enough to offset the deductions in your bonuses. They constantly record your screens, your microphone from your headset, your webcam, and your mouse from the moment the computer is turned on. They also request that you do NOT shut off your computer at the end of the day. Yeah, not going to happen knowing that. I'm the kind of person who likes to use keyboard shortcuts for faster data entry, but they monitor your mouse movement and how long it's been idle. They know exactly where the mouse is, how long it's been there, what screen it's on, how fast you've been moving it, how often it's been moved, and when it moved last. If your mouse "sits there too long" they notify you and state you need to be "more productive". Never mind if you're working faster with keyboard shortcuts, oh no, you need to be moving that mouse or else you're not really working. I was told multiple times I needed to "move that mouse more and not just in circles" or I'd get a warning "the next time". Remember how they always record your microphone? That includes when you're on mute. The mute only muted the customer, but not the recordings, so you could still get in trouble for drinking, sneezing, coughing, or having a car go by too loudly AFTER a call. Their rating with the BBB is so low, they're doing everything they can to improve their image, and busting you for everything is part of that. Your webcam is also ALWAYS ON, so make sure no one is coming by in the room, or you have animals in the background...yup, you'll get written up for it. There is NO career advancement. You cannot hang up on a call for any reason, unless it's a "disconnected" call. This includes robo callers and people threatening to kill you. The company REQUIRES you to give your full name when you speak with someone, and god forbid you have a unique name. Several employees had customer DOXX them over the phone, and afterwards, threatening to do things to them and their family. All that could be done was report it to management and hope the customer hung up or a manager could take over the call. Eventually they were allowed to use company provided names instead of their own name, but that's unacceptable. Additionally, the company is constantly being merged and bought by other companies, making management shifting and employment conditional if you are going to get to stay or not.

avatar
Newrez Response
3y
Thank you for your feedback. We can see that you had concerns about your workplace and we hope you shared your thoughts with our Human Resources team during your exit interview. If you didn’t, we invite you to email HR@Shellpointmtg.com about your concerns.
Viewing 28 - 30 of 1,496 Reviews

Glassdoor has 1,537 Newrez reviews submitted anonymously by Newrez employees. Read employee reviews and ratings on Glassdoor to decide if Newrez is right for you.