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
Apr 9, 2016

Former loan originator

Recommend
CEO approval
Business Outlook

Pros

Good rates in the market Semi corporate

Cons

I worked there for 5 years. I have been a top LO In industry for 12 years. Place is good if you have no experience and only want to close 2 loans a month.Branch managers lie to the top Los. Do not want them to grow or make money. If you close 7 loans a month your a rockstar but that's barely 100k. Low payouts, they would rather have Los close 2 loans a month. All branches are run by branch managers who analyze every penny on their PandL so THEY can make money not the lo. Place could be good if they valued top employees and weren't so greedy. Managers barely work and are happy with override off their teams. And branch managers want Los to avg two loans a month so they pay them on lowest tier. Plus your calling internet leads all day. Very hard to convert unless you have a lot of experience. Not a recipe for success

4.0
Apr 2, 2016

Loan Officer and Mid-Management

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

This was a great company for me to begin my career. Great career growth from entry-level to mid-management. The culture is great, and the company strives in one of the most difficult industries. I learned a lot and could take the skills elsewhere. I would recommend this for entry level to mid-management

Cons

Once I hit mid-management there wasn't room for growth - either financially or career wise.

2.0
Mar 31, 2016
Recommend
CEO approval
Business Outlook

Pros

Nice office, responsive Regional Manager, pleasant atmosphere

Cons

Poor training at branch level, most training done online. Very hard to make a living. Most MLC's close 1-2 loans per month. Need to close 3+ to make any real income. Minimum wage base and they take $1500 off top of commission each month. High turn over.

Viewing 1429 - 1431 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.