NewRez Employee Reviews

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3.0
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Great short term career development
Vice President (Former Employee) –  Plymouth Meeting, PADecember 28, 2018
There are so many great people at New Penn who work hard every day to make it a better place to work. Overall, the culture needs some work, but individual departments work hard to create microcosms of unity and team appreciation. Since leaving, I've come to really respect the business model and edge New Penn possesses. However, there's definitely a lot of room for improvement to create a "best places to work" company. Perhaps the new owner has a different viewpoint on creating an environment that celebrates employee accomplishments and nurtures growth, advancement and genuinely appreciates what the employees contribute on a daily basis.
Pros
Strong business strategy, ability to create unique products, desire to be the best in their category for B2B sales
Cons
Some managers treat their employees like commodities, culture needs to be further developed.
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4.0
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Productive Fun workplace
Mortgage Consultant/Loan Officer (Former Employee) –  Raleigh, NCDecember 20, 2018
I enjoyed working for the branch office of New Penn Financial I had a supportive management team that wanted to see me succeed and always took time to assist me with something I needed help with. I learned a lot of valuable skills to take to future employment opportunities. I would still be there had I not moved.
Pros
Fun work environment, unlimited earning potential, excellent training
Cons
commission based salary
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1.0
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like living in the middle of a tornado
Underwriter III (Former Employee) –  Pittsburgh, PAOctober 11, 2018
Management is not professional or experienced at all. The left hand doesn't know what the right hand is doing. They spend so much time in meetings that they can't see the "big picture" and nothing gets done. There is a LOT of disparate treatment that affects staff and they don't seem to know there are laws against it. They make promises they can't keep and have unrealistic expectations with little or no guidance/training.
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4.0
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A terrific challenge with great leadership however the work/life balance was not realistic.
Sales Manager/Branch Operations (Former Employee) –  Melville, NYOctober 3, 2018
Each day was an opportunity to learn more in-depth details about ever changing mortgage guidelines, work with and develop new hires and keep a funnel of business moving toward close with regenerating with new prospects. Management was great and maintained the company goal through repetition. It was difficult to retain talent due to the lack of work/life balance.
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3.0
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Office Closed for Lack of Performance
Operations Manager (Former Employee) –  Portland, OR 97224October 2, 2018
Sadly I was lied to by the hiring manager who claimed higher monthly closing amount than could be backed by statistics. Commission based income with some salary just never added up to what was promised.

The company itself was fairly good about training, but their in company intranet resources are terribly organized and lacked a reasonable search engine that would pull up the most recent information.
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3.0
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Stressful Environment and Color discrimination
Sr. Mortgage Processor (Former Employee) –  Plymouth Meeting, PASeptember 19, 2018
Be prepare to work your life away if you are in any part of sales or quota driven areas. You will make money but you will work for it and then some. Office has clicks
Pros
Free lunches
Cons
lunch is provided as long as you stay at your desk
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5.0
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Great Place
Licensed Mortgage Loan Originator (Former Employee) –  Atlanta, GaSeptember 17, 2018
I enjoyed the work. It was fun and exciting and well paid.All in all I have no complaints. It is a great place if you are a self starter! There is little if any stress here.
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4.0
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Laid back
Mortgage Consultant (Current Employee) –  Roseville, CASeptember 11, 2018
Works well with personal life. If you have experience in this industry and are looking for a job, currently, you will more than likely get hired here.
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2.0
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Very difficult
Mortgage Loan Originator (Current Employee) –  Plymouth Meeting, PASeptember 10, 2018
This was my 1st time working in the retention department for any mortgage related business. My experiences span over 15 years at from MLO to acct rep. I have returned to the mortgage industry several years a miss. This review is based on my insight from my time at NPF.
MLO's are to work up to close an average of 10 loans per month. You would think being in the retention department that closing a loan in 30 days would be realistic, and should be realistic. But not the case here, loans take way too long to process, therefore closing 10 loans per month you need to build an enormous pipeline. The problem with building an enormous pipeline is you the need for an enormous amount of leads. Again, not the case! After being told in my interview the company acquired 2.5 million loans, loans that is, not volume! so leads should be falling out of the ceiling, pouring out the spigots. piled up on your desk. Again, not the case.
The leads you do get, half are high LTV's, low int % rates, as well as bad credit from the newly acquired loan portfolios. Then to top it off starting in my 3rd month, they decided that the 1st two deals go to the house and we now had to working 3-4 hours on Saturday.
A lot of lathering each other goes on with management who think because they are your boss, have a little money, they are better than you. It is like "Revenge of the Nerds!"

Lastly, this job was not a good fit for me to say the least, but if you are a young go getter and want to get licensed, it may be good for you. Just understand that you be working like you are in a sweat shop. And although
  more... the Mortgage Industry has changed regarding licensing and regulations it still is infested with snakes, liars and thieves. These snakes, liars and thieves survived the years, like survival of the fittest, to keep their breed strong and robust!

NOTE: The new upper management that came in from DiTech will push out the current regime with the help from a current manager.
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Pros
Met some good people; all from non management
Cons
Management lack the motivational and interpersonal skills to run a sales force
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3.0
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Very low pay
Loan Officer (Current Employee) –  Plymouth Meeting, PAAugust 10, 2018
New Penn is a steady place to work. It’s laid back and hours are flexible. They have some serious issues though. The pay structure is very very low. Health insurance is terrible. It’s run off a P/L meaning they are very tight with money. It’s a small company that wants to be big but has no structure to achieve this. They make a lot of promises to get you in but don’t follow through. Managers and team leads are not experienced running teams as they were all producing until recently. They do have plenty of leads and loans do close quickly but it is a low paying position.
Pros
Plenty of leads
Cons
Earning potential, the benefits
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5.0
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Great management
Mortgage Loan Originator NMLS #133572 (Former Employee) –  Melville, NYAugust 7, 2018
The management at New Penn is extremely dedicated to their employees. They go above and beyond when help is needed . As a loan officer having management that cares so much and is always willing to help makes a huge difference .
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1.0
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Avoid the Oregon Branch at All Costs
Loan Officer (Former Employee) –  Lake Oswego, ORJuly 31, 2018
Very toxic workplace. Lots of yelling and very unprofessional actions by the regional manager. Good lead flow, but they can take any lead that you are not "closing". Had a manager take a majority of my leads I was working.
Pros
Lead flow
Cons
Management, Taking of leads
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4.0
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Had a very supportive management staff
Senior Funder (Former Employee) –  Irvine, CA 92618July 26, 2018
Was a great teamwork environment, all departments worked together to get the job done. The upper management team was always willing to help with questions.
Pros
fun, lively place to work
Cons
office closed
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4.0
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Good company...
Licensed Mortgage Loan Originator (Former Employee) –  Melville, NYJuly 20, 2018
New Penn is a very good mortgage company. They operate their business in a most ethical manner. The growth of the company is dependent on the mortgage market...so are commission based compensation. A good sales person can have a great career at New Penn.
Pros
Solid management
Cons
Cyclical business
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5.0
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Good place if you're willing to work for it!
Mortgage Consultant (Current Employee) –  Alpharetta, GAJuly 16, 2018
If you don't mind making a good amount of phone calls and really working for what you're worth then this job would be perfect or you. It's a very laid back environment as far as micromanagement. If you really try your hardest and put in your work you will be rewarded very generously. If you're slacker then this job isn't for you. You have to be willing to ask difficult questions and be very personable to be successful here.
Pros
Commission possiblities, Leads, Live Transfers, Flexible schedule, and Knowledgable Staff
Cons
Difficult customers
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5.0
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Best Job I've Every Had!
Mortgage Consultant (Current Employee) –  Columbia, MDJuly 5, 2018
New Penn is a dream job. Everything about it provides a high level of satisfaction. It is a company that truly puts its customers and employees first.

With the fastest turn around times in the industry (and in my experience), it allows for a very satisfied customer experience.

New Penn has also exceeded all of my personal expectations since starting July 31, 2017.

Best in class!
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5.0
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Productive and fun work place
Mortgage Loan Officer (Former Employee) –  Columbia, MDJune 26, 2018
NewPenn Financial provides all the tools for success a mortgage loan officer needs.

The local management team is superior and easy to work and talk with.

I would highly recommend any loan officer seeking employment consider New Penn Financial and the Columbia, MD office as an employment option.
Pros
Great Management
Cons
Limited number of employees...If there is a slot do not take to long considering your options.
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4.0
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Productive and Fun place to work
Retail Loan Processor (Former Employee) –  Columbia, MDJune 25, 2018
You were recognized for your hard work and accomplishments. Stood strong behind their company Mission Statement. Would have cookouts and parties for all employees showing their gratitude
Cons
Pay
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3.0
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pay isn't great and you won't learn much
secondary marketing (Former Employee) –  Plymouth Meeting, PAJune 18, 2018
pay isn't great and you won't learn much. the job isn't difficult at all, and the learning curve is pretty small. layoffs happen frequently especially if the company doesn't meet its sales targets.
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5.0
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Great working environment
Loan Officer Assistant (Former Employee) –  Santa Ana, CAJune 11, 2018
No complaints had a wonderful time working with this company. I worked with a wonderful team of individuals and management was always helpful when needed.
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Overall rating

3.6
Based on 126 reviews
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3.7Work/Life Balance
3.3Compensation/Benefits
2.9Job Security/Advancement
3.4Management
3.4Culture