Not good for long term - Mortgage Loan Processor Newrez Employee Review

1.0
7 Oct 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.

Explore other reviews about Newrez

5.0
10 Jun 2026
Recommend
CEO approval
Business outlook

Pros

Central Role in the Process. Strong Industry Knowledge. Problem-Solving & Critical Thinking. Relationship Building

Cons

High Volume / Workload Pressure. Limited Control Over Outcomes

avatar
Newrez Response
3w
Thanks for sharing your positive feedback! We’re happy that you are having a positive experience with us. Insights like yours help us continue improving and creating an even better workplace. We appreciate you taking the time to share your thoughts.
2.0
1 Jul 2026
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

- Great work/life balance - Awesome coworkers - Lots of opportunities to try new things and be innovative

Cons

- Senior leadership does not value remote workers and doesn't get to know them/engage with them - Frequently lays off remote employees, regardless of performance, achievements, or job role, sometimes without offering options to move or relocate. They also on occasion use underhanded tactics to pressure remote employees to leave so they don't have to pay out severance. Lastly, unless required by your state's law, they never pay out your remaining time off - If you start underpaid, you will remain underpaid even after promotions - Job performance does not impact yearly bonuses/increases. Pay doesn't keep up with inflation

avatar
Newrez Response
3d
Thank you for sharing your experience. Your feedback matters, and we’ll make sure it’s reviewed by our team as we continue working to improve. We appreciate you taking the time to let us know your thoughts.
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