NewDay USA Reviews

Updated October 16, 2014
Updated October 16, 2014
69 Reviews
3.5
69 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
NewDay USA CEO Robert Posner
Robert Posner
48 Ratings

Review Highlights

Pros
  • They reward their employees for their hard work and dedication (in 11 reviews)

  • Finally, there is a strong potential to make 6 figures in your second year (in 5 reviews)


Cons
  • The hours are long but you are compensated for it (in 8 reviews)

  • Obviously the work life balance is a no brainer (in 6 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Hard Work, Determination & Perseverance Pays Off

    • 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 (less than an year)

    Pros

    This company recognizes and rewards someone who is serious about working hard to position themselves to achieve financial success. For those on here who bash NewDay, they are weak individuals who don't deserve the opportunity to make six-figures in the first two years. NewDay gives a fair opportunity to anyone - no matter where you come from or what you studied in college.

    To make matter even better, we are serving a higher calling by helping our veterans finance their mortgage needs.

    Cons

    If you are looking for a 9-5 job, I would suggest applying for one of our staff positions. If you don't mind working extended hours, with competitive base pay and uncapped commissions you should apply for the Account Executive/Mortgage Banker position.

    Advice to ManagementAdvice

    Keep up the great work with the motivation.

    Recommends
    Positive Outlook
    Approves of CEO
  2. 1 person found this helpful  

    Honest review...

    • 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

    There is a SLIM chance you can make good money. Again....SLIM.

    Cons

    I'm honestly surprised their still in business. I can't put my finger on it but there definitely seems to be something shady going on here. DON'T pay any attention to the good reviews. They're very image conscious and I guarantee that they were done by a recruiter. I'm not a disgruntled employee. I'm one of the few that actually left the company on my own and not fired for no reason within less than 3 months like most. I actually like Rob Posner "Pos" but his underlings are a joke. Yes the hours are long but I didn't mind that. Work hard play hard. The problem is that management is shady and they are basically a chop shop employer. Here today, gone tomorrow. Zero stability and everyone feels like they're on egg shells.

    Advice to ManagementAdvice

    I'm okay with the training and even the hours. I also know it's a business, but you need to give employees longer on the floor to get their footing.

    Doesn't Recommend
    Disapproves of CEO

    NewDay USA Response

    Sep 29, 2014

    Thank you for your comments. It's awesome that you appreciate the value of hard work, but your suggestion that positive reviews are posted by recruiters is not accurate and far from the truth ... More

  3. 1 person found this helpful  

    Hard Work Pays Off

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at NewDay USA

    Pros

    I have been at Newday USA for one year and I love it! I work on the sales floor as an account executive. There are plenty of reasons why I enjoy working here, one being the training. The training that Newday provides is remarkable and is something that I feel can not be found anywhere else in the industry. When I started I knew nothing about mortgages. Through their extensive training, Newday has provided me with the knowledge and expertise that has allowed me to assist the men and women who have served our country, as well as all homeowners. The growth potential is also something that is exciting. If you do well, help others, and maintain a strong ethical foundation, the skies the limit! I have seen plenty of my peers get promoted into management positions in a relatively short period of time. Lastly, the income potential is very strong. Newday does not shy away from paying their employees handsomely for their efforts. Hard work truly does pay off here at Newday.

    Cons

    The hours can be long so if you are looking for a 9-5, average salary job, this is not the place for you. Although the hours are long, the work you do is rewarding and the fast paced environment makes the day go by quick.

    Advice to ManagementAdvice

    Managers are very helpful and will to do everything they can to set you up to be successful. Please continue investing in your employees future.

    NewDay USA Response

    Sep 29, 2014

    Thank you for your note! We take a great deal of pride in our training program and are so pleased to find that it is and has been beneficial to you.

  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review
  5. 6 people found this helpful  

    Opportunity meets hard work

    • 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 (less than an year)

    Pros

    The company is growing and fast. With plans to grow from 350 employees to 3,000 it's great to be apart of something at the foundation of it's expansion. The income potential is outstanding. It's great to have an opportunity where my hard work will finally pay off far beyond what I could have ever expected. While making an impressive living, it's great to be able to take pride in my work knowing I am helping veteran families accomplish their financial goals that most other companies cannot. The company provides all of the means to succeed from your first day in training at the NewDay University through the first day when you hit the floor and the phones keep ringing.

    Cons

    You'll hear some people complain about the hours, but clearly NewDay isn't for them. The harder you work the more you make, it's as simple as that.

    Advice to ManagementAdvice

    Management is constantly providing you with feedback to succeed. The only thing that could be beneficial is more one-on-one attention to address specific needs and areas for improvement.

    Recommends
    Positive Outlook
    Approves of CEO

    NewDay USA Response

    Aug 14, 2014

    Thanks for your feedback! We do agree that mentoring is an area that we need to grow. We are working to improve that.

  6.  

    It was alright. Seems like a ok company to start off.

    • 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 (less than an year)

    Pros

    The 40k base pay, however it is technically an hourly wage based on the hours in a week you work (over 70 hrs.)
    The paid training and certification to work in the mortgage industry.
    The nice new building and offices where they are headquartered.
    Cal Ripken Jr. walking around the building at times.

    Cons

    The ridiculous work hours that one needs to work in a work with no over time pay. Just a "base pay" of 40k which is low in the amount of hours you need to work. At least 11 hours a day plus Saturdays.
    So basically Work-life balance is utter garbage. Say goodbye to your friends and family while you slave away on the phone giving Veterans higher interest rates.

    Advice to ManagementAdvice

    None.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    NewDay USA Response

    Aug 21, 2014

    Thanks for posting this review. We take a great deal of pride in our training program and am glad that it has shown to be beneficial to you. NewDay is committed to building the most professional ... More

  7. 1 person found this helpful  

    Wolf of Wall Street meet selling reverse mortgages to veterans

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

    I have been working at NewDay USA full-time (more than 3 years)

    Pros

    free lunches, free gift cards, excellent Christmas gifts, full benefits, casual Friday, etc

    Cons

    Weirdest company I have ever worked for... basically about 10-30 employees including the CEO were making 250k+ per year sometimes millions per year from what I heard and were enthusiastic and super excited every day like they were kids on a sugar high while there were a ton of other employees who were making really little money and looked scared every day like they could be fired at any moment... the turnover is crazy high I see new kids in every day and never see a lot of faces again it's a never ending cycle of turnovers

    Advice to ManagementAdvice

    stop firing kids and rehiring them every week and teach them the foundation for success and stop expecting kids to work 100 hours a week or be fearful they would get fired at any time no job security

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    NewDay USA Response

    Aug 21, 2014

    Thank you for your review. Our company appreciates the hard work of each employee and we take pride in being able to offer "perks." We are also glad that you appreciate it. I will note however ... More

  8. 1 person found this helpful  

    Don't drink the NewDay Koolaid

    • 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 (more than an year)

    Pros

    Potential income is definitely there. Decent business experience for someone right out of college. Tests your grit.

    Cons

    Obviously the work life balance is a no brainer. If anyone who is recruiting you has not already been up front with you on that, then they are just lying. It is a 60+ hour week, no matter how you slice it. This company's business model is plain and simple...hire AS MANY recent college grads as possible that can do the following: hold a conversation, have worked literally anywhere during their college days, and can pass a background and drug test. That's it. After that, see if they can sit in a chair for 12 hours a day and read a script and actually get a Veteran to commit to the ridiculous fees for their loan that is going to "change their lives". If they can do this for a few weeks and get a veteran or two to bite, PROMOTE THEM! And by promotion, I don't mean pay them more, I mean move their chair across the room. If they get promoted, they will not complain as much and probably post it to social media so that people think it's a great place to work. After a few months, sure you will see that their are some stud salesman that generate insane amounts of revenue for the company and that's what they are obviously looking for . Anyone else that doesn't, more than likely they will quit on their own or they are "promoted" to other inferior departments over and over until they finally do quit.

    The only reason anyone that works there can keep a straight face when convincing their friends/ former schoolmates to apply is because you get a solid grand if they actually end up working there. That bonus wasn't too bad, I must say. Great for the company and the recruiters. "Let's just get the AE's to do all our recruiting for us and throw them a bone". And if you don't actually pull of the miracle of getting someone to join the company, you're commission is docked 20 percent until you finally get 2 other people hired. How ludacris is that. I'm supposed to use ALL that extra time I have to recruit or else I lose out on commission and get called out by my managers for not recruiting well.

    Advice to ManagementAdvice

    We get it, we need to work hard to succeed in life. We understand this concept very clearly. Just cut the hours down and calm down with the recruiting push. Let the employees worry about their own work and have your recruiters do what you pay them to do. Also, there is no need for everyone to be in suits everyday. It's a call center.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    NewDay USA Response

    Aug 7, 2014

    Thank you for your candid comments. NewDay is growing rapidly and has a demand to fill, that is why we are increasing our sales force. We have an extremely thorough recruiting process, very high ... More

  9.  

    Account Executive

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

    I have been working at NewDay USA

    Pros

    Pay and People you work with

    Cons

    Long hours and low job security.

    Advice to ManagementAdvice

    Give people time to prove themselves.

    NewDay USA Response

    Jul 31, 2014

    Thank you for your comments! Our goal is to provide an environment where we can be open about the concerns that our team members have.

  10. 3 people found this helpful  

    Any 4 or 5 star review is written by the recruiter.

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

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

    Pros

    Decent base pay for someone right out of college. You get introduced and licensed into the mortgage industry. Good month long training program.

    There are very good mid level managers that honestly want to help you to get better. Unfortunately I feel half of their job is to protect the new LOs from upper management.

    I got to see Cal Ripken.

    Cons

    This seems to be the business model:

    Hire 20 college graduates a month (even if you do not have a place for them) because they are the ones who don't know any better and will be ok with sitting their listening to crap day in and day out and charging veterans ten's of thousands of dollars for your insane prices.

    The CEO confuses "working hard" for forcing employees to sit at their desk for 11 hours a day. You have to sit through these rah rah meetings where you find out about how much money the managers have and how the ONLY profession to be in is the mortgage industry, and the only mortgage company that can keep up with the federal guidelines is Newday USA.

    Advice to ManagementAdvice

    Stop charging Veteran's higher interest rates and 3 origination points. Do not lie to everyone's face about nobody getting priority leads. Stop firing employees for "bad attitudes" because they didn't laugh enough at the CEOs joke.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    NewDay USA Response

    Jul 29, 2014

    Thank you for your comments. I think it is important to note that our recruiters are not posting reviews to this site.

    I am glad that you found that your mid level managers were an asset to
    ... More

  11.  

    Great starting position out of college - not much more

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

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

    Pros

    Great education program. Base salary and bonus incentives good for people straight out of college.

    Cons

    Lots of wasted time in meetings drinking Kool-aid. They expect you to be there for 12 hours a day even though often you are not even busy. Absolutely no job security.

    Advice to ManagementAdvice

    If they focused more on their products and services and less on micromanaging the employees and having rah-rah meetings, this might have been a great place to work.

    Recommends
    Neutral Outlook
    Approves of CEO

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.