NewDay USA
3.5 of 5 60 reviews
www.newdayusa.com Fulton, MD 150 to 499 Employees

NewDay USA Reviews

Updated Jul 8, 2014
All Employees Current Employees Only

3.5 60 reviews

                             

68% Approve of the CEO

(no image)

Robert Posner

(44 ratings)

70% of employees recommend this company to a friend
60 Employee Reviews
Relevance Date Rating
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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
  • Show more review highlights

Reviews

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    3 people found this helpful  

    Welcome to the real world

    Account Executive (Current Employee)
    Fulton, MD

    ProsIf 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.

    ConsNone - it is not a job for slackers, those who aren't motivated or driven and those who want to work 9-5

    Advice to Senior ManagementKeep up the great work.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Great starting position out of college - not much more

    Account Executive (Current Employee)
    Columbia, MD

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

    ConsLots 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 Senior ManagementIf 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.

    Yes, I would recommend this company to a friend

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    6 people found this helpful  

    Fantastic support/training, great pay, smart company.

    Processor (Current Employee)
    Fulton, MD

    ProsThe 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.

    ConsThe 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 Senior ManagementIt'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.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    3 people found this helpful  

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

    Mortgage Banker (Current Employee)
    Fulton, MD

    Prosfeeling 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

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

    Advice to Senior Managementcontinue to monitor and offer advice, always new things to learn

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    2 people found this helpful  

    If you're willing to work hard to make a tremendous amount of money, look no further.

    Account Executive (Current Employee)
    Fulton, MD

    Pros-The pay, the pay, and the pay. Even in Maryland, arguably the richest state in the Nation with so many companies out there, you will not find a better opportunity to make 6 figures + right out of college. I've been here for 9 months and will gross about $60k my first year, and am on pace to make 6 figures for the calendar year of 2014. Having a $40k base salary is great to hold you over on month's where you don't close as much as you'd like and also while you're in training.

    -The company structure. NewDay is a marketing genious and you get more inbound calls than you can take. Between their direct mail which has had proven success for over a decade and the now booming TV campaign which is still just in its infant stage, its an incredible opportunity to join a company that looks poised to become a 1,000+ employee $1 billion company in the coming years. They also promote mortgage bankers to floor captains and don't discriminate on age at all. My captain is just a couple years older than me only been there 2 years and making a silly amount of money. It's common for the top AE of the month to bring in $30-$40k and upwards of $400k a year! Being able to lead a company at such a young age, make that much income, and help Veterans who would not qualify anywhere else is a truly exciting opportunity. I forgot to mention- NewDay University. They teach you the ins and outs of mortgage banking and don't expect you to know anything about mortgages coming in.

    -Your co-workers and the atmosphere on the floor. This is a big one for me. I wouldn't be able to work the 50+ hour weeks this job demands due to west coast leads if I didn't enjoy the company of everyone around me. I've made some great friends from NewDay I'm proud to call my peers, and even though we're together all As week at the office we hang out a lot on the weekends outside of work. Oh and the weekly company happy hours at Looneys are awesome too!

    ConsThe hours can wear you down sometimes, but the company has acknowledged this and actually just cut back on our schedule. We now work 2 Saturdays a month, but if you work on Saturday its not only extremely casual (sweat paints, shorts, baseball caps, etc.) you also get to leave at 1:30 on Friday. Really what it comes down to though is you have to work hard to get paid a lot, and that's the way it should be!

    Advice to Senior ManagementKeep making improvements on the hours/work-life balance and you'll grow this company to the 1,000+ employees you are shooting for in no time!

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    3 people found this helpful  

    Americas Mortgage Sweatshop

    Account Executive (Former Employee)
    Fulton, MD

    ProsThey give you some of the best training around and it's good exposure to an industry. The people you work with are awesome.

    ConsNot straightforward from the moment you're brought in with the recruiters. It's not a 40k salary, it's an hourly wage with base and overtime. Even though you work 55-60 hours a week, you are only allowed to put down 49 hours on your time sheet. When you hit the sales floor in the training division it is ALL cold calling. When you promoted are when the hours start to add up. You basically have a phone glued to your ear from 9 to 9, there's 0 face to face interaction with any of your customers. They charge 3% in points and fees to everyone for rates that are about half a percent higher. Really only VA loans, they have an FHA program but they don't like to do them. There's a chance to make good money, but you have to give newday your soul.

    Advice to Senior ManagementThey talk about growing and expanding and growing, but they don't have the products to do so yet. Management doesn't know what to do with all the new hires they keep bringing in with their current amount of business.

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    1 person found this helpful  

    Unethical has as hell it's disgusting

    Mortgage Banker (Former Employee)
    Baltimore, MD

    ProsNone, awful, unethical, no morals, lack a soul.

    ConsTakes advantage of vets. All the positive reviews are being done by current customers afraid to lose their job.

    Advice to Senior ManagementDisgusting

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    5 people found this helpful  

    NewDay USA is a great place to start your career.

    Account Executive (Former Employee)
    Fulton, MD

    ProsNewDay USA will give you an opportunity to make great money out of college.
    No other company gives that kind of opportunity to recent Grads.
    Great sales training and practice.
    Free licenses.
    The best co-workers.
    Nice work environment(sales floor was fun at one time)

    ConsNO WORK LIFE BALANCE(Employees literally don't care because they are overworked and need balance in their life)
    JUNIOR PAY PLAN.(YOLO let me pay employees doing the same job different commission)
    Deducting 20% of pay for not bringing in a new hire(Some people have trouble selling a sweat shop as a career opportunity)
    Different Routers - Even the playing field and stop saying that it is even.

    Advice to Senior ManagementMake a few changes. Isn't it business 101 that it's cheaper to retain an employee than it is to hire one?
    Stop telling employees to come on glassdoor and give you a 5/5. That is just a joke. NewDay is an amazing company at a few things and the absolute worse at others. There is nothing wrong w/ a 3/5. Stop acting like you are a 5/5.

    Yes, I would recommend this company to a friend

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    3 people found this helpful  

    My Pros and Cons for NewDay USA

    Account Executive (Former Employee)
    Fulton, MD

    Pros-40k base
    -Will work under some of the best leaders in the industry. They have found Gold in the likes of Rich Tibbetts, Richard Ray and Nick Natale
    -Young atmosphere
    -You can leave with some licenses under your belt and join a different mtg company with some ease
    -Free coffee and once in a while chickfila
    -Involved in several community projects
    -100% inbound calls, you don't have to market yourself

    Cons-All of these bogus Glassdoor reviews... they asked all of their current employees to post positive/perfect reviews about NewDay
    -All of the employees not in management positions have a terrible attitude towards NewDay; are completely unsatisfied and unmotivated
    -Expect to work 55-70 hours per week and most Saturdays
    -You will make the same amount of money anywhere working that many hrs per week.. don't let a "40k" salary fool you
    -R. Posner is a wonderful person and CEO with a vision that might not be so realistic
    -Employee turnover is higher than 75%.. dont expect people to stick around, making relationships with coworkers is almost useless. And because of the high turnover, they are desperate to hire as many people as they can.. if you have a college diploma, you're hired.
    -Many promotions that come with no pay raise

    Advice to Senior ManagementMore communication.. it seems like every week NewDay is changing something and the employees are never in the loop

    No, I would not recommend this company to a friend

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    3 people found this helpful  

    Great Company to Work For!

    Account Executive (Current Employee)
    Fulton, MD

    ProsNewday gives you the tools to become successful. They pay for your training and offer a great salary. I do not know why anyone would not want this opportunity. This company is growing and is going to be one of the top mortgage companies in the U.S. I would tell anyone looking for a career to work at NEWDAY USA.

    ConsFor people who do not work hard this is not for you.

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NewDay USA – Why Work for Us?

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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