Newrez Reviews

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.

WORST MORTGAGE COMPANY EVER. STAY AWAY AT ALL COSTS. YOU'VE BEEN WARNED. You all are practicing deceptive practices. You are unreasonable, unprofessional, you DO NOT service your VA customers as you should be doing. You are committing fraud. You are extremely incompetent. Absolutely horrible.... I will go out of my way to spread this far and wide just how horrible this company is and everyone should stay the hell away from it at all costs. I absolutely LOATHE your company...

If at all possible, please avoid doing business with NewRez. Their customer service is the worst I have ever encountered. Many of the agents seem incompetent while trying to answer basic questions. I have been calling them for 6 months regarding a lender placed insurance that should have never been added to our account. They increased our mortgage payment by 300 dollars and although they found their mistake 3 months later, they still want us to pay for the months they added it.

While my account has been & is current, it is an ongoing challenge when dealing with PHH/Ocwen/NewRez/MQ. Pick a name, they seem to change consistently, but it's the same crappy ALL offshore support. Agents read a script, not fully engaged to answer questions outside of script and sadly most give inaccurate answers, or worse lie. Agents will not give full names, some won't share ID, location and will hangup randomly. Getting accurate answers and real support will require multiple calls over many many hours.

I inherited my mother's house in February of 2023. I lost my job in December of 2023 when the loan was sold to NewRez. I immediately asked them for a deferral payment. In April they filed foreclosure. Then decided to have me apply for deferral. Here we are in November, they have set a sale date and said they never received my paperwork.... LIES! I have emails to prove documents were sent. They are shady. I filed a complaint with Consumer Financial Bureau who is investigating. In the meantime, I have other help in the works. I do not want to deal with them. They are crooks!

Since my loan management was sold to Newrez it has been nothing but a nightmare. I have an adjustable HELOC that should fluctuate as interest rates go up and go down. All it’s done is gone up and never readjusted to the lowered interest over the last several months. I continue to pay a high rate and nobody will contact me, tell me what’s going on. It’s been a month since my first inquiry after several calls into customer service. I’ve requested call backs several times from someone in authority with no help…. Would someone from Newrex contact me?? Also they owe me money for the overpayments last few months as rates have steadily gone down…

I have purchased several houses through the years and have excellent credit. When I went to close with NewRez, they had incorrect information I had pointed out prior to the signing. They hire a local "person" that does the closing and they cannot correct anything. This stalled my closing. I have been with them for several years and when I need to contact them it is impossible. There are many choices - DO NOT use NewRez and/or Loan Care. They are one in the same. AWFUL!

Avoid NewRez / Shellpoint if at all possible. They purchased my condo mortgage and after a couple of years with no apparent problems, sent me letters saying they needed insurance information or would purchase a ‘hazard’ policy on my behalf. I sent in the required documentation, which they should have already had from the insurance companies (Homeowner policy plus HOA). Long story short, they ignored my policies, bought insurance, opened an escrow account, won’t properly apply my payments, and are threatening foreclosure. This was happening for close to 3 months before I even knew about it because of how slow they were to communicate.

Back on January 21st of 2024, I called Newrez mortgage company to inform them that on Feb 16th 2024 our homeowners insurance would be changing to a different company. I told them not to pay the current company and emailed them the bill from the new company. They said they would put a note in the file and would only pay the company I directed them to. Feb 8th 2024 I got an email from newrez telling me they had paid the company I had instructed them not to, of course this email was an automatic email sent after business hours, so I could not call them that day. Feb 9th 2024 I called them to find out why they had the wrong company, how they were going to get that money back, and when they would pay the correct company.

I began a refi with NewRez/PHH, my current mortgage company. After 4 long months, cost of appraisal - $600., repair to house trim- $1200; extension to hot water tank - $300; paid additional bills to prove they were up to date - $600.00 we finally satisfied the appraisal demands with underwriter. (never heard to this) but ok onward. We are now with paperwork and income verification which was a lot of repeated proof after 1 month. 3 months of bank statements, tax forms, check stubs, retirement award letters and more tax forms. They come back and say show us proof that you paid your last bill even though they could see it on the bank statements. This went on for another month. Our credit score is at a 670, but because it is low we need more proof. What? Why? How? Ok we continue to provide proof and get the news that government loans are strict and will not approve with 1 late in 12 months.

As you can see by the vast majority of reviews, this is an extremely horrible company. If you can refinance with another company, it will definitely be worth it. The CSR's at this company are complete idiots and do not care one bit about customer service, as do their "supervisors". They say the lines are recorded, but by the way they all talk to customers, I would say that is an outright lie.

I was assigned to this company when I refinanced my mortgage in January of 2022. In the time since I have had no problems of any kind. I do my business with them strictly online so I have never reached out to them and can't comment on their customer service.