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      Newrez

      Engaged Employer

      Newrez reviews

      3.5

      61% would recommend to a friend

      (1,496 total reviews)

      Baron Silverstein

      69% approve of CEO

      61% positive business outlook

      Ratings by category

      4.0

      Diversity & inclusion

      3.6

      Compensation and benefits

      3.5

      Culture & values

      3.5

      Work/Life balance

      3.5

      Career opportunities

      3.3

      Senior management

      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).

      Ratings by demographic groups

      Reviews by job title

      1K reviews
      1.0
      Jul 20, 2018

      Don't buy into the sales pitch

      Senior mortgage loan officer
      Recommend
      CEO approval
      Business Outlook

      Pros

      They buy you dinner when they tell you you're working late on less than 24 hours notice and make it mandatory, even when you have kids that need to be picked up from daycare.

      Cons

      Lowest compensation plan in the industry. Old, outdated leads. Management is all out for themselves and make you fear asking any questions at all. They will tell you the average for the company for closings is 5 closings a month, but the average for the last 6 months as been 1-2 as an office. Not worth the time or energy, move along.

      1.0
      Jul 16, 2018

      Account Executive

      Account executive
      Recommend
      CEO approval
      Business Outlook

      Pros

      Underwriting is very quick however, its only because the loan officer does ALL the work upfront. Heaven forbid you have an income discrepancy your file will sit there and not be worked until its cleared. This is a very family friendly environment. If you have a family and are able to balance your work time and min. pay, this is a good place for you.

      Cons

      The money, you have pay back $1500 every month, they say for leads. The leads are hit and miss at best. The initial training is a joke. If your not self motivated and catch on quick, your going to get a slow start. The normal ramp up time in this industry is 60 days, mentally and financially prepare for 90 at New Penn. If your planning on making the money you are use to at other places , DON'T. Its not going to happen. Its not a purchase driven company in a purchase driven environment. The average person is doing 2-3 loans for about $800k ( this is generous) =$5200 - $1500.00 (payback/leads= $3700 before taxes.

      1.0
      Oct 26, 2017

      Stepping stone

      Anonymous employee
      Recommend
      CEO approval
      Business Outlook

      Pros

      Good stepping stone, entry level type of job

      Cons

      Unorganized vision, lack of talent from management, management doesn't take responsibilities of failure, bad pto, benefits, structure. If you're not part of the clique you are chopped off. Do a bad job, but join the clique and you should be ok

      Viewing 145 - 147 of 1,496 Reviews
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      ReviewsNewrez 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.