account executive

credit analyst

assistant vice president

loan officer

mortgage processor

NewDay USA

The company loves preaching how well they're doing, but in reality, they have to fire not only decent employees, but cut benefits, company events, and much more in order to stay afloat. Everyone is young there, including managers, but with that comes in-organization and miscommunications, which in turn, creates chaos amongst the veteran family.

Turnover is very high and if you make it more than a year, that just means you've been sipping the "Kool-Aid" for too long, or you've been able to deceive enough veterans to make a solid paycheck. They also say they care about employees, but you will get paid significantly less than the 49 hours a week they cap you at when you work well over that (9am-9pm mandatory scheduled hours for at least M-W). Management will always try to sell you the "opportunity" of making 6 figures and scare you into thinking there are no other positions out there paying what NewDay pays. There will be homeowners that you can help (families that know they will never pay off the house and just want extra spending cash before they refi again), but the majority of the people you deal with will hate you for charging them a high interest rate, origination point, and multiple discount points. Next thing you know, your average $250k house costs you well over $10k in fees.

The company just wants to protect their data and analytics, which is why AE's will never quote a rate before they complete a credit check. They want to have your information in the system, run a proper debt-to-income ratio, so they know exactly when to mail you another advertisement and get your business in the future. Not even sure why they have recruiters at this point either. AE's are pressured to ask every friend possible to join the company and if they don't provide names, they're looked down upon. I cannot begin to tell you how many of my friends got fired within their first 3-6 months.

Overall, I made more money my first year out of college than I ever though, but I also threw away so much free time and peace of mind.

Working at NewDay USA has been a challenging experience, and not in a good way. The work environment is extremely high-pressure, with unrealistic expectations that often lead to burnout. Management is more focused on numbers and quotas than the well-being of their employees, and it feels like you're constantly being micromanaged.

The work-life balance is practically nonexistent. Long hours and weekend work are the norms, with little to no flexibility. It’s not uncommon to see employees staying late just to meet the daily demands, which takes a toll on personal life and health.

Compensation is not reflective of the workload or stress levels. While the company offers some benefits, they don’t make up for the lack of support and appreciation from leadership. There is also a noticeable lack of career growth opportunities. Promotions seem to be based more on favoritism than merit, which creates a toxic environment where hard work often goes unnoticed.

Overall, the culture at NewDay USA needs a significant overhaul. Employee morale is low, and it’s clear that many are unhappy with the current state of affairs. I would not recommend working here unless significant changes are made to improve the work environment and management practices.

There's obviously a reason why hundreds and thousands of employees have come and gone. This place will burn you out. But, I made more money here than I would likely anywhere else with this being my first job out of college. All my licensing and training was paid for. You'll arrive at work one day and see someone else's desk next to you completely cleared out and in a week it'll be filled with a new fresh-faced young graduate. The trick to actually getting paid the big checks is to be a manager (captain or higher) since you get team bonuses. Also the comp plan is predatory and is always being restructured. NewDay on avg. makes 25K on a cashout loan, and the AE is paid $250 each, in other words 1% of what should be your revenue. Do not trust the managers to have your interests in mind and never get comfortable. In conclusion, if you want to work a lot you'll make money but it won't be sustainable and they'll screw you eventually - they always will. 

Working at newday can be rewarding, both financially and professionally, but it comes at a price. You can come in with zero work experience and they’ll train you and get you licensed. You have to work long hours. A 40hr work week doesn’t really cut it here, as you’ll likely not be able to produce enough to stay employed because the company expects everyone to work OT. You can make over 100k without being in management, but will need to put in 60+ hour weeks so I wouldn’t recommend working here if you want a work/life balance. Company culture is borderline toxic, everyone is expected to be a recruiter regardless of your job title and promotions are given to those who sucker their friends into joining the the company. The company can’t figure out how to retain employees so if you stay over a year you likely have more tenure than 50% of the company. 

NewDay USA was the worst company I’ve ever worked for. They look to recruit recent graduates who are new to the job market or individuals who have an extensive sales background. 

They were misleading/dishonest during the interview. Training was only two weeks after initially being told that there would be a several month long onboarding process. 

On the first day of work I was required to schedule the Mortgage Loan Origination Exam. If you do not pass the exam you are at risk of being terminated. Their retention is low due to inadequate training. I watched people be escorted out every other day after failing their exams.

Fortunately, I left the company on my own will and ironically was offered a severance package if I agreed not to say anything negative about their organization. I declined the offer.

NewDay USA's focus is to help veterans get or keep the homes that they love.  Passionate employees make up the competitive culture in the sales department but are always offering help to those in need.  Teamwork is absolutely necessary and management is fully supportive.  Benefits, bonuses, and promotion from within define this meritocracy.  
For many the hardest part of the day is walking away from a phone that won't stop ringing when the caller on the other side of the line is in need and offers whomever answers a great chance at a hefty commission.  This, undeniably, also makes up the most enjoyable part of NewDay USA- helping people that have served our great country while being given the opportunity to make hundreds of thousands of dollars per year and a position in upward management.

This place uses young people who recently graduated college and pretends to be a great place to work and start your career. They advertise 60K a year, but almost immediately, during the first interview, tells you that you're expected to work an additional 20 hours on top of the regular 40 hours. Basically, forget work/life balance. Furthermore, the culture of the office is really toxic with everyone forced to wear business professional attire like you're a part of some big name financial firm dealing multi-billion dollar deals, when, in reality, you're taking advantage of distressed veterans in financial hardship. Most of the time you're sitting at a computer and clicking the refresh button to see any new lead showing up so your co-worker doesn't steal it. Stay away if you want to keep your sanity.

I was big fan of NewDay USA. I thought they're pay was quite competitive. The environment was great and offered a lot of different opportunities in multiple areas. I found that the company required it's employees to work many hours per week, however, in doing so you would more than likely see the benefit directly correlate to the additional commissions you made! The training by NewDay was also superb.

Just awful the worst management team you will ever run across. They turn and burn people and have been doing so for years. Someone once said to me you'll get a job there and learn about the business and move on and make real money. They were correct. Avoid at all costs they sell expensive loans to people who need help. Ripping off our vets is one of the worst things you can do as an American and they do it in abundance on a daily basis.

What is the best part of working at the company?
Best part is the base salary. 

What is the most stressful part about working at the company?
The culture and favoritism within the office. AVP and VP teams and themselves would under perform. But would still get promotion. They don’t train rather hire next college grad.

What is the work environment and culture like at the company?
Work environment and culture was good beginning. As rates went up had a huge down slide in culture and work environment.

What is a typical day like for you at the company?
The typical day was working a lot of hours.

Top Job Titles	Average Salary
Account executive 42 salaries reported	$62,738 per year
Credit analyst 4 salaries reported	$62,500 per year
Assistant vice president 5 salaries reported	$76,000 per year
Loan officer 5 salaries reported	$124,000 per year
Mortgage processor 3 salaries reported	$60,000 per year

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