NewDay USA Reviews | Glassdoor

NewDay USA Reviews

Updated April 25, 2017
174 reviews

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Full-time Part-time

3.5
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NewDay USA CEO Robert Posner
Robert Posner
133 Ratings

174 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)

  • I felt like I could make a lot of money from the start, and that became true (in 9 reviews)

Cons
  • The problem with long hours here is they aren't justified (in 31 reviews)

  • It's sometimes hard to manage that work/life balance but it is doable (in 14 reviews)

More Pros and Cons

  1. Helpful (1)

    "Great Career Growth and Training"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Account Executive in Columbia, MD
    Current Employee - Account Executive in Columbia, MD
    Positive Outlook
    Approves of CEO

    I have been working at NewDay USA full-time (More than a year)

    Pros

    Amazing training, great work environment and motivating culture. It is definitely not easy work but everything that you do is rewarding both financially and for the customers. NewDay is a great place for young working professionals who are looking to take their career to the next level. The hours can be long but the income is worth it. I have been at NewDay for 1 and 1/2 years now and can see myself here for the remainder of my career.

    Cons

    Adaptability is key - there is a lot of new things that get rolled out but I don't think that is a bad thing it makes things interesting and challenging. A part of financial services is being able to adapt to the ever changing environment.

    Advice to Management

    Thank you for everything


  2. "Account Executive Position"

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

    I have been working at NewDay USA full-time (More than a year)

    Pros

    NewDay has an extremely competitive, driven and young atmosphere, which I love. The vibe on the sales floor is always running at full speed and it helps with motivation and morale. The opportunity provided is incredible and rare to find for young professionals fresh out of college. Never could I imagine the ability to earn this type of money at my age. One of the best parts about NewDay is that all the marketing is taken care of and leads are provided directly to you every single day. That's not a common occurrence in the mortgage industry.

    Cons

    The mortgage industry is a roller coaster industry with major ups and downs. It can be hard sometimes when those lows hit and you have to climb your way out. Its wears on you sometimes. The hours are long and there are some late nights in the office but nothing young professionals wouldn't expect elsewhere. It's sometimes hard to manage that work/life balance but it is doable.

    Advice to Management

    I'd tell management to just keep up what they are doing. I like how they handle situations with positive attitudes and use every opportunity to make me better. Although I like the flexibility of the schedule, it would be nice to have a quarterly schedule to know what Saturdays you do work.


  3. "Top notch mortgage company"

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

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

    Pros

    Excellent mortgage career paths, 3 year time table to become a high quality underwriter, very youthful and professional atmosphere, transferable experience, ability to change departments easily.

    Cons

    40k starting salary is with overtime included, salaries can be a bit low in the industry,

    Advice to Management

    Actively reward length of employment with raises so young employees don't stray. Give six Sigma clear, more local research goals.


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  5. Helpful (2)

    "Not a great first job out of college"

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

    I have been working at NewDay USA full-time (More than a year)

    Pros

    Coworkers: you'll make a lot of great friends here.

    Cons

    Hours are ridiculous.
    Management
    Company politics
    Cultish culture
    Poor regard for employees
    Unrealistic expectations for loan volume.
    Ridiculous pressure to produce regardless of other factors
    Favoritism based promotions and not merit based.
    The top manager in processing always says one thing and then will do the complete opposite or say the opposite the next week. She only cares about numbers and her bonus which is Tied the company's success and makes no effort to get to know her team on a personal level.

    Advice to Management

    Make a stronger effort to not make employees feel disposable and do less in trying make everyone buy into the artificial culture.


  6. "Only accept the position if it's your last choice"

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

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

    Pros

    You can get your MLO (Mortgage Loan Originator) license for free. NewDay University is definitely a good thing and you learn a lot. The also pay for your licenses in ten states, so take advantage of that.

    Cons

    The problem with long hours here is they aren't justified. You'll work 50+ hour weeks during training and you can be cut at any time. Don't get too attached to your classmates because they can easily be gone in the blink of an eye. Also, there were 5 students of color in my incoming class and four of them were fired within the first six months; one left because of a better opportunity. Not sure if there's a trend going on, but I found it very discomforting to know those were the first few to be let go. If you don't HAVE to take this job, don't take it. And if you do, use them to get your licenses and run.

    Advice to Management

    Inform candidates of the horrors that await them before they accept this job. Inform them that after passing the SAFE exam, their work week will jump from 40 hours to 50+. Inform them that if they don't "produce," they are likely to be fired, but production is based on the discretion of managers so either way, they're screwed.


  7. Helpful (1)

    "Company is a joke"

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

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

    Pros

    Opportunity to make a lot of money if you live there 24/7.

    Cons

    Shady practices. Just look at the many regulators who have recently fined them A LOT of money.


  8. "Great place to start a career"

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

    I have been working at NewDay USA full-time (More than a year)

    Pros

    Great place to begin a career, when I first started I realized the position I started in wasn't the best fit for me, luckily I was able to transfer to a different department that I have nothing but positive things to say about. There can be long hours towards the end of the month, but we are compensated fairly for the time we spend here. It's a fun place to work, almost everyone is about the same age. Hard work and a job well done never go unnoticed here which allows for rapid advancement. I couldn't see myself working anywhere else.

    Cons

    Management can sometimes set what seems like unattainable goals based on the current pipeline, but that can probably be said for just about any company. Some mid-level managers can be less qaulified than the people they manage.

    Advice to Management

    Keep doing what you're doing for the most part. Pay closer attention to those you are considering promoting. Communicate better with employees about upcoming events/meetings etc. (give people more time to plan)

    NewDay USA Response

    Mar 29, 2017

    Thank you for your review!


  9. Helpful (4)

    "I like the environment but feel cheated"

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

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

    Pros

    Challenging, young, professional. The company has a great work environment and the material is challenging and exciting. Rapidly growing at the moment so the company is expanding with a new home office opening in San Fran.

    Cons

    I feel cheated because I went into the company under the impression I would be going to core. My class went through safe and licensing all in the dark as to what department we will be going into. I wanted to be in the hard working high hours high rewards track. Instead now I find out that I'm not and I'm in another department in which the details are not quite clear as to commissions and that my pay has been cut from the 49 hr which comes to 50k to just over 40k now because i have been placed in the 42 hour department that is not on track to core. I've asked around but so much is changing in the company that they have not been able to give me a clear answer.


  10. "Business data analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Data Analyst in Fulton, MD
    Current Employee - Business Data Analyst in Fulton, MD
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at NewDay USA full-time (More than a year)

    Pros

    Great challenging and professional environment, great training, amazing compensation and benefits, rapidly growing company so mobility within the company is a major factor right now

    Cons

    55-60 hour weeks and business structure is continuously changing, but if you want to make money you're going to have to work hard and long hours to get valuable experience


  11. Helpful (6)

    "A Few Good Words"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in Fulton, MD
    Current Employee - Assistant Vice President in Fulton, MD
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    I am so tired of people coming on here and bashing NewDay. This company has completely changed my life for the better. When I am came to NewDay I had little professional experience, and had worked several dead end jobs. NewDay has given me a once in a life time opportunity to be as successful as I want. Everyone posts comments about the hours or working hard, I never knew it was a sin to work hard at your career? My parents thought me at a very young age that if you want something you are going to need to work for it. At NewDay we pride ourselves on hard work, but we are compensated well for our efforts. The opportunities at NewDay are like any other company in the fact that your not going to start right away and be immediately successful overnight. However, if you want an extremely rewarding career where you have the opportunity to help the Veteran Community who has sacrificed so much for all of us and your not afraid to work a little bit, then NewDay is probably the company for you. I am currently one of the Assitant Vice Presidents at NewDay and have the opporunity to run my own team and train young men and women day in and day out. I did not start at NewDay in this role, it took time and hard work. I started at the company as a new Account Executive in our training university just like everyone else. Over the last 2 1/2 years I have learned so much, develop so many professional and important life skills. I have held several positions in my career at NewDay and because if that I find myself where I am today. We have positions for everyone at this company, but if you want to be a full time Account Executive and eventually becoming a future leader or f this company it's going to take hard work, and it really take most people an average of 12-18 months to really learn this business. I have a one important question that I pose to all the young men and women that complain about the hours on here day in and day out.

    What would your parents or grandparents do if they had an opportunity to be extremely successful at their careers and provide for their families at a young age, but they were told they may have to work hard to achieve it?

    If you like helping people, and enjoy challenging yourself, NewDay will provide you with just that, and so much more!

    Cons

    i don't have any negative feedback whatsoever


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