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I worked at NewDay USA full-time for more than 3 years
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 Senior Management – Hope one of your scorned employees doesn't decide to pick up the phone to 60 Minutes and expose your shenanigans.
2013-11-06 16:06 PST
NewDay USA: Company Overview NewDay USA provides homeowners with VA and FHA mortgage loans that address a variety of needs and goals. Our company is: • Ranked nationally as a top VA and FHA mortgage lender • Focused… — Full Overview
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