Newrez Reviews

HORRIBLE COMPANY, NO CUSTOMER SERVICE. NewRez has increased my fixed rt mortgage $2000/MONTH because they did not escrow enough for my property taxes. Took them 3 YEARS to figure that out. I asked 3 yrs ago to pay MY property taxes & was denied. Now I am paying for THEIR SCREW UP!!!! Have made 2 calls to again request paying my own property taxes with NO ANSWER!! DO NOT USE NEWREZ >>> HORRID!!!

My loan was transferred to NewRez two years ago and their customer service is absolutely terrible! My first experience calling customer service was about my account number not registering with my bank to use my online checking to pay the bill. They had absolutely no answer for me and just told me that I couldn't do it and had to make the payment from their website.

Been having a pretty terrible experience with them. They are saying I have to have a 75% LTV (Loan to Value) to have my PMI removed, however I always knew it to be 80%. They are telling me I'm incorrect and it's 75%, but they continue to bumble the sending of my paperwork stating their number. They've sent me the wrong documents, they've put them behind a firewall I can't get to with the email they told me to log in with, and they've even at times just forgotten to send anything. Be very wary of this lender. I'm not sure if what they are doing is predatory lending or not, but it's REALLY annoying.... and so every month I keep having to pay PMI while we dance over the phone ever few days.

Unfortunately, my mortgage was transferred to NewRez, and my experience since then has been extremely disappointing. While I understand that occasional mistakes can happen, the issues with this company have been ongoing. From double mortgage payments being processed, to a refund check being mailed to the wrong address, it’s been a constant source of frustration.

I have yet to have a satisfactory interaction with them. Most recent issue is in March I changed my homeowners insurance provider for better coverage at a lower rate. I contacted Newrez to let them know as I did not want them to make a payment to my old insurance company and per the correspondence from Newrez, they make payments 3-5 weeks before the due date. On 1 of my many calls an agent gave me an email address to send my new proof of insurance letter to. It was a website NOT an email address. When I pointed this out she argued with me stating "this is the email address they gave me" I had to explain that if it ends in .com it's a website NOT an email address. As of today my insurance company has yet to receive payment and it's 6 days overdue. Horrible service!! I make my payments on time. Why can't they?

Got a mortgage for a property in AZ through Zillow before selling our home in PA. Paid off the mortgage on 6/18/24 but PHH (servicer for Zillow) said the loan was transferred to Newrez even though it was not to be transferred until 7/1/24. NewRez stated the loan was not paid until July so took the rest of our overpayment and escrow even though we submitted the appropriate payoff and escrow information to them.

Really awful servicer to deal with on every level. I have constant hassle with them switching from one carrier to another and have not been able to straighten out what they are doing for months. Can't log onto my account half the time, the other half you can’t call them either. I am going to make my second complaint the banking regulators tomorrow.

Loan was moved to this company. Tried to pull equity to do a kitchen upgrade..excellent credit, $8,000 total in credit card debt, 2 cards. Bought home in 2009 never late. They told me I owed too much on MANY cards. Nope. Asked me why I had many credit inquiries. I wouldn't know because those came from companies trying to OFFER me credit. Last September I did a homestead tax exemption and sent them the documentation. We are going into March and the payment hasn't been adjusted. I've called them 3 times and they are always "working on it". I'm paying $400 to $500 more than I should be! Very disappointed and unnerved seeing so many 1 star reviews on different sites.

I didn’t “choose” NewRez, my original loan was with USAA, passed off after a few years to PHH, then to New Rez. My credit is excellent, btw. A few years ago I wanted to refi/consolidate other debt to get a lower rate and pay everything off sooner. They dragged the process out with ridiculous requirements that they later admitted they had stupidly locked themselves into, so I just quit. I have now paid off the mortgage, and 6 weeks later, waiting for my excess escrow payback, which btw, is excessive. If this is the way everyone is treated, they are making a lot of interest on money that isn’t theirs. Customer service is seemingly present, but it’s just an illusion. I routinely get letters weeks after I send an inquiry, long after I’ve given up or found my answer another way.

Newrez bought my mortgage from previous lender. No problem. Easy to set up automatic payments. Paid them for years on time no issue. When I wanted to explore what it would entail to recast my loan I found it virtually impossible to get information/support. No way to write in about the issue, live chat with AI didn't work, and virtually impossible to get someone on the phone. I had to lie about why I was calling to get some support. They are a DEBT COLLECTION agency - And that is their focus. In a world with decreasing customer support, and it being super rare to get a real person on the line to help. Newrez stood out as an ALL TIME LOW experience.