Newrez reviews

3.5

61% would recommend to a friend

(1,493 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 1,493 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
Apr 27, 2022

Used to be great

Recommend
CEO approval
Business Outlook

Pros

There were once many pros, but most of them don't exist anymore.

Cons

This company used to be great until the Caliber acquisition. Now it's gone downhill quickly! There have been mass layoffs in every area/division of the company (Caliber, Newrez, and Shellpoint)—including folks who have been here for 20+ yrs. They were just disposed of like they were nothing and no announcement was made. People are no longer priority here like they once were—you are just a number. They also are pushing return to office all of the sudden after talking for the past 2 yrs about offering permanent remote or hybrid options (which MANY companies are doing now). This tells me that they don't care about adapting to the new post-pandemic world we are in. Many have quit or I know are looking because of this. They also instituted a vaccine mandate and it was one of the worst communicated policies in history. They made it sound like if you didn't get vaccinated you'd be fired, so many got it because they didn't want to lose their jobs. Then they said, "Well it's okay if you don't get it, you just can't come into the office." (Which no one cares about anyway as no one wants to be there). Now that they are pushing returning to office they are only making vaccinated people come back. So if you got it to avoid losing your job, it's like you're now being punished by being forced to work in office again. It's so unethical on so many levels. Executive and senior management are literally some of the worst I've ever seen. So out of touch it's pathetic. Not to mention they can't talk to employees or answer any questions without a script. In our "town hall" meetings you must submit questions in advance and the CEO and other execs read from a teleprompter. Even the jokes are written in. I'm surprised they don't have a laugh track playing. I'm sorry, but leaders of a company should be able to step up and answer hard questions without getting the PR team involved. So many more things I could mention, but bottom line: Do not apply here. Do not apply to Shellpoint. Do not apply to Caliber. It's painted as rosy and great but this company is DYING. People are fleeing in droves. It's bad. Stay away.

avatar
Newrez Response
4y
Thank you for voicing your concerns, we truly appreciate your honest feedback. Here at Newrez, we are committed to employee satisfaction and continuing to find ways to improve your experience. We encourage you to continue to provide feedback by contacting HR@newrez.com to discuss further. We look forward to hearing from you.
1.0
Nov 2, 2019
Recommend
CEO approval
Business Outlook

Pros

This company has no positive attributes. This was one of the worst experiences of my life.

Cons

Senior management referring to Asians as Oriental and laughing about it. White employees stating they understand why George Zimmerman killed Trayvon Martin. Minority employees being scapegoated and the first to be laid off after being held to impossible standards. Employees being retaliated against for reporting racist management and HR covering their tracks.

avatar
Newrez Response
6y
NewRez takes your concerns very seriously and we do not tolerate any of the behavior you are describing. Please contact us so that we can get more information and investigate. Our anonymous hotline is 844-600-0043.
1.0
Jun 28, 2016
Recommend
CEO approval
Business Outlook

Pros

There isn't any pros to working here. I guess if you quit, which you will, you will join the 57% turnover rate so you will be keeping with the trend. Do you like revolving doors? If so, step right in.

Cons

There isn't enough time to get into everything that is wrong with this company. There is no direction whatsoever. Management is only concerned with making themselves look good. They will throw you under the bus in a snap to avoid taking responsibility for their many mistakes. Operations is a disaster. Not enough underwriters or processors. The bonus they claim you will make is non existent. No matter how hard you work, it will not be recognized. You will be talked down to and micro managed at a level that is unthinkable. Processing managers are rude and have no clue what they are doing. Cannot answer basic questions or lead a team. audit process is designed to prevent you from making bonus. Everyone is miserable here due to a mass exodus of employees in April that left for greener pastures. Branches are often closing as quickly as they are opened. Any 5 star reviews are simply to offset all the valid terrible reviews of this company. Seriously, avoid unless you are about to be homeless and this is your last option.

Viewing 4 - 6 of 1,493 Reviews

Glassdoor has 1,534 Newrez reviews submitted anonymously by Newrez employees. Read employee reviews and ratings on Glassdoor to decide if Newrez is right for you.