Newrez LLC (Newrez) is a leading nationwide mortgage lender and servicer. As a lender, Newrez focuses on offering a breadth of industry-leading products, supported by a loan process that blends both human interaction and the benefits of technology into an unparalleled customer experience. Founded in 2008 and licensed to lend in 50 states, Newrez... show more
Newrez Reviews
The WalletHub rating is comprised of reviews from both WalletHub users and ratings on other reputable websites. The rating was last updated on 09/21/2021.
3.5
3,278 reviews
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Newrez
robertfranktwist @robertfranktwist
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Zero stars. My mortgage is with them so I looked into a refinance. What the broker said made sense. I knew there would be closing costs but this was borderline robbery. Almost 9K for a 150,00 mortgage? Not my first home here so have an idea what things cost and what fees are high but good lord. When I called him out on it gave me the BS and I won't find a better deal. If I do and I believe I will then they lose the refinance and my mortgage.
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Product: Newrez FHA
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Newrez
Richard Rekkers @thebigr_sb38
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They are terrible...went with them to save $2 a month...now they can't ever process the fact that I paid my homeowner insurance...called them 3 times...long and mean long holds..then they promise to fix it..but instead keep sending me a bill for their homeowners insurance
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Product: Newrez Conventional
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Newrez
Henry Szybowicz @hszybow
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Absolutely no stars from me, but you have to give one. Back in April 2021, I wanted to refinance. Unfortunately, I was with NewRez since I had the misfortune of having my mortgages sold to them. I saw they were accredited by the BBB back then, so I took a chance. BIG MISTAKE! They kept wanting more and more documents and stalling. They took my $600 appraisal fee, wasted my precious time, hurt my credit score. I finally had enough and took another look at the reviews of NewRez. What an eye opener! These people are criminals. They either don't have the money to loan you, or are doing this to rake in countless appraisal fees, etc., or both. PEOPLE THIS IS A PUBLIC SERVICE! STAY AWAY FROM NEWREZ! Go to a local bank or credit union. Someone you can trust. I am in process of getting both my mortgages away from this schlock outfit and seeking legal action.
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Product: Newrez Conventional
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Newrez @NewRezHQ
We sincerely apologize for your experience. We take these matters very seriously and would like to investigate this further. Can you please email us the details of your concerns at [email protected] so we can look into this matter in more depth and work to resolve it.
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Newrez
Brian Chapman @brianachapman
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Newrez Loancare is the single worse business I have ever dealt with in my 63 years on this planet. For starters, every extra payment I made toward principal was applied toward future months. This means I was taking money out of my retirement account and losing interest and opportunity and getting nothing in return. Calling them is an extremely frustrating exercise. When I would finally speak to someone I'd be told the problem was corrected only to find that it was not. I wrote letter after letter. I complained to their CEO, then the BBB and then my state AG and finally the federal AG. They were costing me the thousands of dollars I should have been saving. Here's the thing... they didn't have to be nice to me, because I didn't choose them. Yet I am stuck with them unless I want to pay the closing costs of refinancing with another lender.
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Product: Newrez Conventional
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Newrez @NewRezHQ
Hi Brian. Your feedback is extremely important to us, and we are very sorry to hear that you’ve had such a frustrating experience. Please send an email to [email protected] with details and we will do our utmost to resolve your concerns.
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Newrez
Jessica Wood @W2x44
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After not hearing from New Rez for 12 days I decided to look up reviews here and on the BBB website. I cannot believe all the reviews regarding lack of communication, the length of time refi customers have endured, and overall just bad business they have been experienced !!! I have been a long time customer of New Rez and have not had an issue prior. I have tried to reach the lender to get an answer regarding 2 options that were provided to me during my conditional approval via phone and email with no avail. At this point, Im extremely discouraged and Now I know this process is going to take months. That’s if I decide to continue the loan process with them. New Rez- I have already reached out to your customer care via Email regarding my complaint. Update-My loan processor called me today after 5pm. Strangely, she introduced herself as my loan Processor but this is NOT the same voice I have spoken to during the entire process. She proceeded to tell me my emails have gone into another folder. Then she tells me that if I call her I should also email her because she doesn’t receive voicemails. New Rez are you kidding me??? You are a mortgage company. I have a 50% chance of actually speaking to MY loan Processor. This is absurd.
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Product: Newrez Conventional
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Newrez @NewRezHQ
We sincerely apologize for your experience, Jessica. We take these matters very seriously and would like to investigate this further. Can you please email us the details of your concerns at [email protected] so we can look into this matter in more depth and work to resolve it.
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Jessica Wood @W2x44
@NewRezHQ I have been in contact with CustomerCare. They reached out to my loan Processor to have her reach out to me. Which she did. I asked to speak with her Lead person. She gave me the contact the very next day. I called the lead person and left a voicemail…. Its been a couple of days and still no reply! I even asked for customer care to call me. No phone call as if yet! I do not want to email anyone. I would like and deserve a phone call. As, I have already been deceived.
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Newrez
Tonja Myers @panseygrl
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Prior to today, I had not had a problem with Newrez. Nothing was outstanding but nothing was a problem. But then today I received a response to a problem I had. I had a problem with their app. My bank is going through a merger, and when I went to pay my mortgage, they would not accept the current saved routing #. So, I asked my bank for the new banks routing # and it went through. Well, when it went to clear, it was rejected because the new bank doesn't have my account yet and of course, Newrez hits me with late fees and NSF fees over this even though it was THEM that asked me to change the routing #. Its $60 some bucks so not the end of the world, but it angers me. Like many companies they are fine until you have a problem. If you have a problem, don't expect them to help.
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Product: Newrez Conventional
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Newrez @NewRezHQ
Hi Tonja. Your feedback is extremely important to us, and we are very sorry to hear that you’ve had such a frustrating experience. Please send an email to [email protected] with details and we will do our utmost to resolve your concerns.
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Newrez
James Connolly @jamesconnolly7
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LISTEN TO ALL THE REVIEWS. This company is the absolute worst company I’ve ever dealt with in my life. Think I’m exaggerating??? NO WAY! I joined wallet hub just to hopefully warn someone and save them the stress I went through. This company is absolute WORST. My mortgage was sold to them, and like the other reviewers, They missed my insurance payment immediately. It Was an absolute nightmare to figure it out. I must have waited on hold for 50 hours, and the employees could care less that my policy was going to lapse and be CANCELED. Good news is Now im refinancing with another company.. not to get a better rate, but to get out from under this incompetent company!! Lol. I’m not lying. Really wish our loan hadn't been sold to them, there isn’t anything I can do about that.
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Product: Newrez Conventional
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Newrez @NewRezHQ
Thanks so much for bringing this issue to our attention. We take this matter very seriously. Please email us at [email protected] with more information so that we may investigate this matter further.
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Newrez
barbjadams13 @barbjadams13
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Save yourself TIME and AGGRAVATION! Do NOT use New Rez!! I started my ReFi Dec 2020. Here it is- end of August 2021- still NO APPROVAL!! I cannot believe its taking this long to approve a loan UNDER $100K for a person with a credit score in the high 700's!!!
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Product: Newrez Conventional
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Newrez @NewRezHQ
Hello Barb. We understand how frustrating it has been for you and would like to extend our most sincere apologies regarding the recent issues with your loan. We have a high standard of customer service, and this should not have been in processing for 9 months. We would greatly appreciate the opportunity to further discuss this with you. Please email us at [email protected] with more information.
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Newrez
Tonya Toles @tonyatoles
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We started our refinance in May of '21. We wanted a VA refinance. "Sure!" they said. Weeks later we were sent a loan estimate for a conventional. No one told us that you couldn't do a VA cash-out in Texas. I inquired and was told, "Oh, I thought someone told you." Who is SOMEONE??? Countless documents and emails later, an appraisal person shows up at my door. I ask my loan officer about our date to close. She states, "The appraisal has to be ordered and completed." ???? I told her AND sent her the copy of the appraisal I received. She stated, "Oh, sorry. That was for the VA. That should have been cancelled." WT...??? I had a COMPLETE stranger come in to my home and "poke" around and he wasn't even supposed to be there? Then I was told my close date would be July 9 if not sooner. July 8 and I hadn't heard anything, so I called AGAIN. "We're having trouble getting an appraiser in your area." I am livid. My loan officer CC'd her boss and asked her to give me a call. Nothing. The appraiser finally calls and states it will be August 31!!!! She sounded incredulous herself and stated she had never seen an appraisal set out and accepted so far in advance. My husband and I applied with another company. As of this date, our file is in underwriting and we are set to close next week. Meanwhile, I get an email from NewRez stating our appraisal date has been moved to September 10!! I can't with this people.
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Product: Newrez Conventional
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Newrez @NewRezHQ
Hello Tonya, we are listening and understand your frustration. This has obviously been very disappointing for you, and we sincerely regret the recent issues with your loan. We would like to discuss this further with you ASAP. Please email us at [email protected] with more information and we’ll ensure this is resolved.
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Newrez
Mona Latch @MonaLisa4
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This is the worst company I ever dealt with. Please stay aware of NewRez. After 12 months, I can't get someone to return my call. They kept running my credit report without my permission. The most unprofessional company out there. After 100 messages, I still did not get a response. Whoever answers the phone is not allowed to give you any information. They take your number and promised that someone will return your call within 24 hours. A year later and I'm still waiting.
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Newrez @NewRezHQ
We sincerely apologize for your experience, Mona. We take these matters very seriously and would like to investigate this further. Can you please email us the details of your concerns at [email protected] so we can look into this matter in more depth and work to resolve it.
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James Connolly @jamesconnolly7
@NewRezHQ actually, no. You don’t care about “taking these matters seriously”. Your customer service is a complete joke!
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+4 users submitted a rating without writing a full review
