NewDay USA

www.newdayusa.com
There are newer employer reviews for NewDay USA

9 people found this helpful  

Review from a REAL employee

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Anonymous Employee
Former Employee - Anonymous Employee

I worked at NewDay USA full-time (less than an year)

Pros

I think the team work and dedication of the AE's, processors, and underwriters is great.

Located in a great area with shops and restaurants for lunch (if you have time for a lunch break)

Cons

Absolutely NO work/life balance. They have these recent college grads thinking you have to work 80 hours a week just to make 50k. False! They can start as an Analyst at Freddie or Fannie making 60k and work a regular 40 hours a week.

The communication from the recruitment process really needs work. I was hired for one position but was placed in another once I started.

High turnover rate. Every week I felt like my loans were transferred to a new AE because the previous one left or was fired

Advice to ManagementAdvice

Recruitment - Please inform prospective candidates that the position they were hired to do may not be what they come in as.

Stop with the fake reviews

Doesn't Recommend
Neutral Outlook
Disapproves of CEO

76 Other Employee Reviews for NewDay USA (View Most Recent)

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  1.  

    A company to grow with

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Fulton, MD
    Current Employee - Anonymous Employee in Fulton, MD

    I have been working at NewDay USA full-time (more than an year)

    Pros

    NewDay is a growing company with many opportunites for advancement. They truly promote from within and provide extensive training allowing employees with a drive to succeed the tools develop a career in the mortgage industry. They reward employees with both company and individual bonuses when goals are met and exceeded. In addition, I feel NewDay is a company that cares about it's employees and their families.

    Cons

    At times, additional hours may be necessary due to high volume or to reach company goals at the end of the month. Overtime is not paid out since employees are paid salary, however, higher production numbers mean bigger bonuses.

    Recommends
    Positive Outlook
    Approves of CEO
  2. 10 people found this helpful  

    Fake reviews maybe? Here's the truth

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Fulton, MD
    Former Employee - Anonymous Employee in Fulton, MD

    I worked at NewDay USA full-time (more than an year)

    Pros

    You get licensed on the company dime.

    You will be taught the mortgage industry (from a NEW DAY point of view).

    Some loan officers make good money if you are willing to decieve clients.

    If you have no family great place to spend all your time.

    Cons

    No work life balance for loan officers. <-- read this twice.

    Very high cost loans compared to competition.

    Compliance and ethical morals do not exist. You would not want to work for them if they get investigated.

    You have a rate sheet that exists only for regulators, must sell higher cost loans. Verballized, never in writting.

    At any time you will be required to sign new pay structure and hourly structure.

    HR will say anything to mislead you about the work environment.

    Obvious kickbacks are being paid to "exclusive lender relationships" and "board of directors".

    Pre-Qualified leads are false advertising. How do you declined credit on qualifed leads?? I would file complaints about this. They mail people with forclosures and management wants you to produce loans that will not qualify.

    Management holds credit committee to appove or decline loans, the majority of declined loans are due to low profitablity. You could spend weeks working on a loan that gets denied because the profit margin is too low, this is verbalized never in writting.

    Reading a script that requires you to mislead clients. AKA US VETERANS

    HR will despute this because the truth behind this company will hurt the recruiting.

    Advice to ManagementAdvice

    Business ethics 101 should be revisted. Claims to restore the morals of the mortgage industry are clearly not how you conduct your actions. Really? You are taking advantage of VETS?

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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