NewDay USA Reviews

Updated August 18, 2014
Updated August 18, 2014
66 Reviews

3.5
66 Reviews
Rating Trends

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

Review Highlights

Pros
  • They reward their employees for their hard work and dedication (in 9 reviews)

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


Cons
  • NO WORK LIFE BALANCE(Employees literally don't care because they are overworked and need balance in their life) (in 4 reviews)

  • flexibility is key, difficult for some who do not value hard work, constant push, very draining (in 6 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1. 5 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 for less than a 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.

  2. 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 for 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

  3.  

    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 for less than a 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

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  5. 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 for more than a 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

  6.  

    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.

  7. 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 for less than a 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

  8.  

    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 for less than a 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
  9. 4 people found this helpful  

    Welcome to the real world

    • 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 for more than 3 years

    Pros

    If you are competitive, like to win and want to be a part of the best of the best, then you are at the right place. We refer to it as the "big leagues" for a reason. A major league "athlete" will put in as many hours as necessary to become the best and get to the top. They go the extra mile and aren't afraid to put in the work ethic or the extra hours. It is similar because if it was easy or the "minor leagues"...everyone would be doing it! If you don't have that drive, you weren't made for this industry. It's sales.. I am 24 years old and made 120k last year at 23. I have not seen any company that rewards their employees for the work they put in like newday. I have also never see a company that provides a true 6 figure income a year out of school. It is simple. You put in the work, you produce, you get rewarded. If you don't, you don't. You get out what you put in, just like anything else in life. We have fun, we help veterans and it is extremely rewarding.

    Cons

    None - it is not a job for slackers, those who aren't motivated or driven and those who want to work 9-5

    Advice to ManagementAdvice

    Keep up the great work.

    Recommends
    Positive Outlook
    Approves of CEO
  10. 3 people found this helpful  

    lots of room to grow and learn about the industry and in the company

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

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

    Pros

    feeling of running an independent business yet at the same time the structure of a company
    what you put in is what you get out of it
    lucrative industry in finance without the tedious same day items, different circumstances encountered every day

    Cons

    flexibility is key, difficult for some who do not value hard work, constant push, very draining

    Advice to ManagementAdvice

    continue to monitor and offer advice, always new things to learn

    Recommends
    Positive Outlook
    Approves of CEO
  11. 7 people found this helpful  

    Fantastic support/training, great pay, smart company.

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

    I have been working at NewDay USA full-time for less than a year

    Pros

    The NewDay USA management team is smart. There is indeed a bit of turnover, but it's an effective amount. The result is that most people who stay here for a bit are really into what they do. They like to use the word "meritocracy", which is pretty accurate. All the managers I know are here more than I am and are working really hard. Rob Posner, the CEO, works late almost every Saturday...which is absolutely his choice.

    What I like about NewDay is how fluid and flexible the operations are. There are always changes in the office: new assignments, projects, policies and procedures, and this is a good thing. Most employees are cross-trained in several departments. Things are happenings and decisions are being made all the time. NewDay has room to move and grow, and I'm very interested to see where the company will be in a few years.

    NewDay is about getting it done, whatever it takes. The company isn't shy about money. It will spend a lot of it to make a lot of it...and if something isn't working out they'll drop it.

    The pay is great, at $40,000 base, with bonuses and commissions (there are a LOT of bonuses to be had). They're really good about time off. I was able to get a few days off, even after just starting to work here, to attend family weddings with no issues.

    Overall: Great opportunity. I would and do recommend it to my friends. Beautiful office, great culture/people/environment. If you're offered the chance, take it. If you love it, you'll end up sticking around here for a long time. If you don't, you'll probably end up moving on...but you'll move on having been extensively trained and well-paid. It's more than you can ask of most companies.

    Cons

    The hours can be long, depending on the employee and the week. But it's not a "required time at your desk" kind of place. It's all how fast you can get your work done/schedule your time.

    Advice to ManagementAdvice

    It'd be cool if there was an anonymous forum for Account Executives or new hires to submit comments to management. I've heard a lot of different perspectives on issues from a lot of different people, some of which would be really valuable to decision-makers.

    Recommends
    Positive Outlook
    Approves of CEO

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