NewDay USA Reviews in Baltimore, MD | Glassdoor

NewDay USA Baltimore Reviews

6 reviews

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Baltimore, MD

3.9
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NewDay USA CEO Robert Posner
Robert Posner
6 Ratings

6 Employee Reviews

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Pros
  • Hard work and a job well done never go unnoticed here which allows for rapid advancement (in 20 reviews)

  • 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 (in 16 reviews)

Cons
  • You will have to work long hours if you want to get ahead and be successful (in 27 reviews)

  • no job security or work-life balance (in 11 reviews)

More Pros and Cons

  1. Helpful (1)

    "Staff Review"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Loan Processor in Baltimore, MD
    Current Employee - Loan Processor in Baltimore, MD
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at NewDay USA (Less than a year)

    Pros

    We make an impact in the lives of veterans every day.
    Great people and a great team atmosphere. Everyone is a team player and NewDay fosters a friendly but competitive atmosphere.
    The company is growing rapidly so there are plenty of opportunities for people who work hard and like what they do to move into management positions or become an underwriter.
    Pretty easy commute from Baltimore.

    Cons

    The hours can be long near the end of the month and the work is challenging, which isn't really a bad thing.

    Advice to Management

    Keep hiring great people and continue to roll out classes / continuing education. The intra-department competitions (steak & beans etc.) keep things fun - do more of these.

    NewDay USA Response

    Mar 3, 2016

    Thank you for your review! We are glad that you are having a positive experience! The opportunities here are endless and we are glad that you are excited about the company growth as well as the ... More


  2. Helpful (6)

    "Disappointed..."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Baltimore, MD
    Former Employee - Anonymous Employee in Baltimore, MD
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

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

    Pros

    A chance to get tickets to sports games, go out to fancy dinners, and happy hours. Free lunches sometimes.

     It is a good job to have straight out of college, it will teach how to handle yourself in a professional environment and develop your interpersonal skills. Good co-workers and middle management, people willing to share their knowledge to help you. You will learn a lot about the mortgage business.

    Depending on the department, you can make a lot of $$$.

    Cons

    No performance reviews and no annual salary bump, not even cost of living. I worked there for over three years and my starting pay was less than some of my co-workers who had the same credentials as I did. Shortly before I left I got the starting salary of a recent graduate that has no sales/mortgage experience. So they value an employee with no mortgage experience over someone with years of experience? On a similar note, if you move to another department, you may get a pay cut, make sure you weight your options.

    No work life balance. Some employees work 7 days a week. Overtime is limited so you still don’t make the money you thought from the recruiting aspect. In interviews they ask you about extracurricular actives and if you are active. Which leads you to think they are expecting you be keep in shape but you are sitting at your desk all day.

    Getting burned out. It is like being a hamster in the wheel. You are working hard to still remain in the same spot. If you get noticed by management to become a manager you may get a raise, but it is not guaranteed.The pressure of staying late, and the judgement of leaving on time is ridiculous.

    Advice to Management

    Listen to your employees.

    Try not have to have management in long meetings where they are unavailable to answer questions and were mistakes can be made with newer employees.

    Don’t offer salary bumps and raises ONLY after an employee puts in their two weeks. Why don’t you reward employees if they get promoted or when employees are doing quality work. Why wouldn’t more employees offer to quit in order to potentially get a raise? Pay your employees, what they are worth.

    Sr. Management, either hire more people or delegate duties elsewhere. Middle Management seems to be swamped and having to focus more on their work, and less on their employees’ needs.

    Supposedly they are working on Performance Reviews, but I have been hearing that for years. Hopefully NewDay will make good on that promise. Good Luck.

    NewDay USA Response

    Nov 5, 2015

    We have officially signed a contract for the new performance management system and couldn't be more excited to roll that out within the next few weeks. We have also hired full time health and ... More


  3. Helpful (10)

    "HR"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Baltimore, MD
    Former Employee - Anonymous Employee in Baltimore, MD
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at NewDay USA (More than a year)

    Pros

    NewDay USA is a company who is immediate with hiring candidates, when they see the serious ambition and experience in your work ethic and strong drive to succeed they will usually hire you or get you through the phases of the interview chain of decision makers.

    Training is provided onsite

    Cons

    Constant quick to hire - quicker to fire (most often with verifiable reason) thus is a company with politics and work cliques, if someone doesn't like you they will find a way to make everyone have a reason to feel the seem. It's very petty and unprofessional .
    They expect you to call the male senior executive staff Sir and Mr.... if not its viewed as disrespect.

    Very arrogant environment, no growth potential, very low salary, expect a lot - offer nothing substantial. They talk a lot of promises to get you interested but don't fulfill most of what appears promising in the beginning. Too many attitudes of power and control

    Advice to Management

    Stop using the same sales pitch - long interview process to take advantage of candidates. Take the focus off yourself at times and put it on the staff. Work on your reputation of taking advantage of seniors and retired vets who are on fixed incomes and vulnerable because that's how you're viewed to the public and by a lot of employees who experienced working at NewDay

    NewDay USA Response

    Sep 18, 2015

    Thanks for your review! We are extremely passionate about hiring the best and brightest to be a part of our team. Not only are we passionate about that, but we are passionate about providing ... More


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  5. Helpful (10)

    "it sucked"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Officer in Baltimore, MD
    Former Employee - Loan Officer in Baltimore, MD
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    paid training is about it. They help you get your state lisc and teach you about the industry

    Cons

    I could write in this column until the cows come home. Everything you see in every other negative review is true.

    Advice to Management

    Come clean. Stop ripping off vets with your loans and college kids with your oppurtunity.

    NewDay USA Response

    Jun 26, 2015

    Thank you for your comments. We do take pride in our training program here at NewDay, and we are glad you saw a benefit in that opportunity. We also take our commitment to veterans very seriously ... More


  6. Helpful (6)

    "Unethical has as hell it's disgusting"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Banker in Baltimore, MD
    Former Employee - Mortgage Banker in Baltimore, MD
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    None, awful, unethical, no morals, lack a soul.

    Cons

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

    Advice to Management

    Disgusting


  7. Helpful (9)

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

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Officer in Baltimore, MD
    Former Employee - Loan Officer in Baltimore, MD
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at NewDay USA full-time (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 Management

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



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