Newrez Reviews

BEWARE! Do yourself a favor and avoid loan origination and loan servicing with Newrez LLC. Customer service is non-existent. NewRez appears to actively search for ways to frustrate customers and maximize irritation as sport. The Newrez business model is toxic, serious errors abound and the associates lack skill, knowledge, and ability to assist customers in any meaningful way.

There's no way to communicate with them. Their website fails at times, especially around communicating with them. They only give you certain things to contact them about on the webpage and you can't really attach anything. They almost never get back to you. Phone system sends you down multiple dead ends. You are lucky if you can talk to someone in after one or more calls. Figure a lot of time to get anything done. Stay away from them if at all possible.

Newrez has been a nightmare!!! I have spent years attempting to get a pay off amount that includes my years of additional principal payments. I pay biweekly & pay additional payments monthly ($600) and they continue to report my balance reflecting the "original" principal payments only. They are not calculating interest savings. Pure fraud! They are intentionally inadequate. I pay on time, extra and clearly they are stealing the payments to eliminate me paying it off!!! I have reported this to FCC, BBB, every level of management at NewRez, nothing!!!!

I was approached by NewRez to refinance my home in Maine. They informed me that based preliminarily on my income and my credit score that I would be able to reduce by interest rate by almost 3 whole points (I bought at the height of the market). I authorized them to do a credit check and begin the process. Then, they went radio silent. No response. Days turned into weeks, weeks into months. I finally get a letter from them stating that the application is abandoned. Meanwhile, I now have a hard credit check with nothing to show for it. They reached out and told me that I could refinance again. I told them that I tried and that they completely ghosted me. Profuse apologies flooded in, they re-opened the application and used the same credit check from before. The process was restarted.

I started asking about my escrow analysis on Dec 6 2025. The said it was mailed out. I called 9 times for my escrow analysis and January mortgage statement. I got the run around by 9 different managers. I finally received my statement on January 17. I filled out the coupon with the full escrow amount and $400 dollars toward additional principal. Newrez made a massive error and put all of the money towards my mortgage statement. There are lines on the coupon showing where I want the money to go.

The worst worst worst company. If I could give 0 stars, I would. First there is not a way to direct contact anyone at the company. There is information to get into touch with anyone. You have to stay on customer service line for hours and the people do not speak fluent English at all. The website does not work well. Constantly breaks and then you are responsible for late fees when they cannot make a functioning website in 2026. They missed my parcel ID and I had to pay out of pocket for my property taxes and had a lien placed on my property because they were paying the WRONG ONE. If I hadn't stayed on them and calling and calling they would not admit their mistake. Worst mortgage company ever. Staffed by outsourced staff that don't know basic words in English. I hope they go out of business and the CEO is personally held accountable for how bad their customer service and professionalism is.

The Newrez or the Shellpoint Mortgage Servicing company, I am wondering if they are a real mortgage company or if they do not know what they are doing or if they are using this practice to take people money. Since September 2024, I have been fighting with them to bring my mortgage current since they said I am one month behind. They sent my name on collection. I had to contact all the credit bureau myself and send them proof of payment that I am not behind on my payments. All three-credit bureau removed my name from collection. It has been more than a year. They are still saying that I am behind, but they cannot send me in collection. “Ridiculous.”

Horrible company. Kept changing the prices to close on the refinance. Nothing about this process was smooth or enjoyable. They tell you one thing and then change the prices all while giving a high interest rate. They had me pay off certain things to get the loan and appraisal, approved the loan and then asked for another close to 10k on the closing. At first to close they wanted nothing, then it went to 10k, then it went to 20k. They told me that my appraisal came back 10k short on a 1.5-million-dollar home. If you ask around, I can bet that you won't ever hear of an appraisal coming back 10k short on a 1.5-million-dollar home. Do not use this company. They have multiple locations and if you look at the reviews they are mostly recent and bad.

I called to ask a question and received incorrect information or incomplete details. They removed our escrow account without reason. When we contacted them, they informed us we needed to resubmit all the paperwork to have it reinstated. We did that, and then they claimed it was never received, even though we sent it electronically and through mail. Poor customer service!

I came to echo the exact same sentiments as all of these other reviews. Newrez has, by far, the WORST customer service of ANY business I have ever dealt with. I have been trying for ALMOST A YEAR to close my escrow account since I would rather make my tax and insurance payments myself instead of Newrez hanging on to my money. After being told that we could not close our escrow account due to our loan to value ratio not meeting the 80% requirement, I requested documentation of where that is written into our loan type requirements that an escrow account is required if LTV is below 80%. Months of round and round, submit request on portal, do not submit on portal, you must email, you must submit a letter with hand-written signatures, to get this: YOU MUST HAND WRITE A LETTER, and then YOU NEED TO BE MORE DIRECT IN YOUR LETTER.