There are newer employer reviews for NewDay USA

Helpful (8)

Turnover, Overcharging VETS

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

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

Doesn't Recommend
Negative Outlook
Disapproves of CEO
Doesn't Recommend
Negative Outlook
Disapproves of CEO

Pros

Free lunch and good training.. Use this training for your next job, I did and it worked. I work half the hrs I did at new day charge half the price and make twice as much..go figure.

Cons

I worked at new day for 9 months or so. I was lied to by recruiters, management, and upper management.. I ripped off vets, people who put there lives on the line for our country.. This company could be one of the worst companies in America to work for and/or be associated with. Hrs are way to long, this is America not China. Upper management is awful, the attitudes the judging the lies about leads coming. Basically all the reviews you've read on here that are not obviously from the company are correct. Long work weeks every other Saturday, lies about earning potential, high turnover, bad flowery speeches from the CEO, new ideas that go no where, employees getting canned before they can begin to build a pipeline. Ads that are going to be the greatest thing ever not producing anything but disqualified calls. Calling old leads with disconnected numbers or that don't qualify and expected to produce from that rubble. Unrealistic expectations for production, giving them an easy out to fire you. Making you sign disclosures from that start so they don't have to give you lunch or pay overtime. I had high hopes going in, wanted to help the people who fought for me, wanted to be a good citizen, New Day Usa made me do the complete opposite. They love the control, you as an employee are better than that and don't need that.

Advice to Management

Dissolve the company. Get out while you can. Get out before Anderson Cooper or 60 Mins comes knocking. You have burnt to many bridges and your time will end.

STOP writing FALSE REVIEWS. Its obvious.

reviews filtered by
  • Any Location
  • Any Job Title
  1. Helpful (7)

    You will be ashamed of your employment once you understand what you are doing.

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

    I worked at NewDay USA full-time (more than 3 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    If you are really freaking good at sales, you will make money but of course, if you are good at sales you don't need this vehicle. There are thousands of other jobs that will pay better with less stress. The training is top notch. They spend a great deal of time helping you learn the industry and absorb all the costs of getting your licensing.

    Cons

    The overly obvious canned positive reviews should tell you all you need to know. I doubt there is a single positive REAL review on here.. They have been doing the same routine for the last 15 years. Make you wait 7 hours to be interviewed Make you some subservient smuck for your first year of employment- dangling out the carrot of the supposed riches that await your effort. Making you work 90 hours a week with the threat of working on Sundays. Stop me if you've heard this one, "Congratulations everyone, you just got a raise because you are going to work this Sunday." Constant fear, threats and pressure to make numbers. Do you think any other lender offering VA loans operates this way?

    They take advantage of freshly minted, eager, young college grads by teaching them to take advantage of their less sophisticated peers who have just come back from war.. Being a soldier is a noble and brave choice. Coming home emotionally and physically scared, you are not in a position to make the best financial choices. Lets be honest, soldiers don't read the Wall St. journal in the first place. The fact that this company portrays itself as some "friend of the soldier" is an in-your-face wolf in sheep's clothing as you will ever see. They have former high ranking servicemen who have influence. They are on the take through the guise of being on the "board of directors". Ask yourself, WTF does a former ranking officer have to offer a mortgage company that merits being on their Board??? Do you even think they know what a basis point is? They are there to exert influence on the VA. The VA is complicit in steering their veterans into the most expensive and therefore, worst loan on the market to meet their veterans needs.

    Ask yourself, does this sound like the tactics of a compassionate company that wants to *help* the honorable people that have served this country? Or do you think this might just be a boiler room focused on preying on some of the least financially savvy people out there?

    NEW DAY doesn't offer any VA loan that is any different than any other loan you could get from any other VA lender. There are thousands to choose from. The only difference is that their loan will cost you $5-15k more depending on loan size than you would have received from any other lender.

    Advice to Management

    Hope one of your scorned employees doesn't decide to pick up the phone to 60 Minutes and expose your shenanigans.

  2. Helpful (9)

    Training is 1st class, the rest is garbage

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

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    They do train you well... but that's where the pros end.

    Cons

    If you want to work 11 hour days and almost every weekend while being comped 40K salary with no real advancement opportunity unless you work 60-70 hour weeks, Newday is for you!

    Basically, this company prides itself on serving veterans, but in reality it steals their money. Sure, a veteran might be hooked up with some cash on a refinance, but they end up paying 3+ points on the mortgage plus have an incredibly high rate. Other lenders will charge lower rates AND no points, so in the end this company is a total farce.

    Oh, and I haven't even gotten to the employment part... Basically, this company will train you to be a loan originator, and they DO train you well. My advice: take the training, and go find a better job once you have all your licenses. You will work from 9-8:30 every day and work most weekends. For 40K per year.... I'm sorry, but there are PLENTY of other 9-5s that start at 50K and up within the mortgage industry if you have licenses. Senior management is a joke. They're nice people, but they make money off stealing the loans of fledgling loan originators once they get laid off. I am about to quit this job, and there is a mass exodus of employees leaving the company. Seriously we have about 2 meetings a week where managers tell us how good we have it and why we shouldn't leave, yet they're suprised when people do. Don't waste your time with this company!!!

    Advice to Management

    Stop stealing money from veterans. Plenty of other lenders who will do max cash out with no points or fees at LOWER rates... Also, get out while you can.

There are newer employer reviews for NewDay USA

Work at NewDay USA? Share Your Experiences

NewDay USA

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.