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
May 19, 2022

Nightmare

Recommend
CEO approval
Business Outlook

Pros

A paycheck and health insurance - which you will need to pay for your mental health downward spiral once you start working here

Cons

I loved this company.. past tense. I really did. There was so much that was going right. The Executives cared, our diversity programming was great, leaders were being developed, and our culture was one of pride. That all changed right around the time almost every leader in HR left within the span of two weeks. They put a person over HR who had no HR experience and was in charge of Vendor Management and the whole company suffered as a result. Most of the diversity on the executive level was laid off, and all programming for the employees was basically halted. They did nothing for employee appreciation but a sentence or two from Baron, honestly it would have been better if they did nothing because that was a slap in the face. They stopped sending surveys to ask for our feedback so we don't even have a way to tell them how we feel. HR seems to have time to respond to these comments, which makes sense as they are public, but can't send a survey to ask us directly? A culture of nastiness and mistrust has taken hold. Most of the leaders left from the layoffs in HR are simply yes men and women to Baron and then every level down follows suit. The leaders who are left don't show they care or even consider us as valuable employees. Money is the sole driver, which is fine for the executives and stockholders and terrible for us as employees. Although, it's only a matter of time before the money saved from laying people off catches up with the poorly managed people, and even they start to feel it. I truly feel for the leaders who do care, a small number do exist, but I can't imagine they will stay. Every call/meeting is spent at least 50% decompressing from the unrelenting amount of stress everyone is under, and very little is actually being accomplished. The people they keep are those who they think are loyal to the individual leaders and not who are most skilled. So now you have 1/3 of the staff and none of the skills. Anyone who can leave did, and anyone with skills that is left is just waiting for a job offer. The amount of people I know who have started antidepressants or anxiety meds as a direct result of these things is terrible. Add to this a force-placed return to work with no real justification... it's an utter mess.

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Newrez Response
4y
Thank you so much for your honest review and we are saddened to hear you’re having such a frustrating experience. Insight like this is valuable for us as we continuously look to improve our employee experiences. We will be sure to share your feedback with our leadership team. Thank you again for your feedback.
1.0
May 9, 2022

BEWARE

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

There are no Pros here.

Cons

Communication is dismal. Morale is low due to mass layoffs and the Great Resignation of 2022. People started resigning and it has been snowballing ever since. To make things worse, executive leadership is not willing to slow or stop projects in order to balance the massive number of terminations. There simply are not enough resources to do the work. Everyone is beyond burnt out. The chaos is real and the ELT are pretending to not even notice. The mandatory Return to Office is asinine. Why? If you have concerns about people being distracted at home, then MANAGE THEM. Don't force everyone back in just so you can babysit them. The majority of your Employees are giving more effort from home, than if they were in office. You are cutting yourself off at the knees if you continue down this path because even more people will leave. Too many companies are adopting permanent WFH policies, so be prepared to lose more, come June.

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Newrez Response
4y
Thank you for sharing your feedback about your experience. Our focus is always to create a positive experience for all our employees. If you are open to discussing this further, we would like to hear any additional comments or concerns you may have to better your experience by contacting HR@newrez.com. We appreciate you for taking the time to provide feedback!
1.0
Dec 6, 2021
Recommend
CEO approval
Business Outlook

Pros

Ok to start out to get some experience then LEAVE!

Cons

Where do we start.... -The training is horrendous, come with experience or dont at all, you will be stressed 24/7. - No job security at all, be prepared to always look over your back wondering if you will still have a job. - Very low pay, promises of a raise that was never given. - Mass firings, done over zoom apparently - Weak training program, training does not prepare you for the job. Only prepares you to understand the lingo and follow an outdated system to complete daily tasks. -Be prepared for your systems to crash daily, sometimes a few minutes, sometimes a few hours. -Periods of time where there is not enough work to do..which leads to mass firings - Take off work for a day or two and your whole pipeline is a mess -Management plays favorites. - No Teamwork, teams don't work together or help, they all compete

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Newrez Response
4y
We understand during times of transitions it can be difficult. Our team truly appreciates your valuable feedback. We are committed to finding ways to improve our processes as we grow and make it as easy as possible for all employees. We wish you all the best in your new opportunity.
Viewing 7 - 9 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.