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Newrez LLC Claimed Company
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 is headquartered in Fort Washington, Pennsylvania and operates multiple lending channels, including Correspondent Lending, Wholesale, Direct-to-Consumer, Retail, and a network of joint venture partners. Newrez’s servicing business consists of its performing loan servicing division, Newrez Servicing, and its special servicing division, Shellpoint Mortgage Servicing. Newrez also has several affiliates that perform various services in the mortgage and real estate industries. These include Avenue 365 Lender Services, LLC, a title agency, and E Street Appraisal Management LLC, an appraisal management company. Newrez is member of the New Residential read more
Newrez LLC Company Culture
Newrez LLC Culture
This score is derived from employee ratings & reviews2.4/5
Newrez LLC's Overall Culture is rated D-
Top Rated Culture Dimensions
Office Culture
C-Professional Development
C-Gender
C-Manager
D+Compensation
DNewrez LLC CEO
Bottom 5%Bottom 5% of Similar Size Companies on Comparably
Baron Silverstein
48 /100
See More
Diversity at Newrez LLC
Bottom 15%Bottom 15% of Similar Size Companies on Comparably
D
Diverse employees at Newrez LLC have rated Perks And Benefits, Environment, and Compensation as the highest categories they have scored
Women at Newrez LLC
Bottom 30%Bottom 30% of Similar Size Companies on Comparably
C-
Women at Newrez LLC have rated Perks And Benefits, Environment, and Work Culture as the highest categories they have scored
Newrez LLC eNPS
Net Promoter Score tracks your employees' overall score to this question: "On a scale from 0-10, how likely are you to recommend working at your company to a friend?"Bottom 20%Bottom 20% of Similar Size Companies on Comparably
Recommend to a Friend?
-45
Newrez LLC employees are -45% more likely to recommend Newrez LLC as a great place to work
| 21% | Promoters |
|---|---|
| 13% | Passives |
| 66% | Detractors |
Working at Newrez LLC
Working at Newrez LLC is rated below average by 205 employees, across various culture dimensions. Newrez LLC employees rate Office Culture highest among all categories, and think that Meetings and CEO Rating have the most room for improvement, putting Newrez LLC’s culture in the Bottom 10% compared to similar sized companies on Comparably and in the Bottom 15% compared to other companies in Trenton, NJ. See below in detail how working at Newrez LLC was rated by employees.
Overall Company Culture at Newrez LLC
D-
Overall Company Culture at Newrez LLC is rated D-
Last updated 21 days ago
Bottom
10%
Newrez LLC ranks in the Bottom 10% of other companies on Comparably with 1,001-5,000 Employees for Overall Company Culture Score
Newrez LLC Employee Reviews
Out of 214 Newrez LLC employee reviews, 33% were positive. The remaining 67% were constructive reviews with the goal of helping Newrez LLC improve their work culture.
| Positive Reviews | 33% |
|---|---|
| Constructive Feedback | 67% |
Positive Reviews From Newrez LLC Employees
- What did you like most about the interview process?I liked that there was only one interview
- What did you like most about the interview process?All Good All Good All Good
- What is the best part about your compensation package?Base pay and bonuses are good
Constructive Feedback From Newrez LLC Employees
- What does the leadership team need to get better at?Getting business staff to do their assigned work items instead of pushing questions to business management. Business manager openly accuses developers, damaging credibility of developers, of breaking software systems already tested and approved by peers, technology managers without all the facts.
- What does the leadership team need to get better at?Have Diversity at the top and not just one Southeast Asian or African American just so they can claim they are an EEO employer and get government subsidies but walk the walk. Don't claim that you are inclusive or DEI when it was never the case.
- What does the leadership team need to get better at?Wake up and actually manage
Newrez LLC Company Information
Newrez LLC Company Overview
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 is headquartered in Fort Washington, Pennsylvania and operates multiple lending channels, including Correspondent Lending, Wholesale, Direct-to-Consumer, Retail, and a network of joint venture partners. Newrez’s servicing business consists of its performing loan servicing division, Newrez Servicing, and its special servicing division, Shellpoint Mortgage Servicing. Newrez also has several affiliates that perform various services in the mortgage and real estate industries. These include Avenue 365 Lender Services, LLC, a title agency, and E Street Appraisal Management LLC, an appraisal management company. Newrez is member of the New Residential
Newrez LLC Mission, Vision & Values
Newrez LLC Mission & Values
Exceed the expectations of our residential mortgage borrowers & business partners through superior service, simple processes, and effective communications. We deliver on this mission by empowering our employees by encouraging and recognizing superior performance and innovative solutions, by promoting teamwork and divisional cooperation.
| Headquarter | 1100 Virginia Drive, #125 Fort Washington, PA 19034 United States of America |
|---|---|
| Website | www.newrez.com/ |
| Founding Date | 2007 |
| Company Status | Public |
| Stock | NRZ |
| Jobs | jobs.jobvite.com/newrez |
| Social Sites |
Newrez LLC Employees
205 employees at Newrez LLC have reviewed Newrez LLC across various culture dimensions, providing their opinions on items ranging from executive ratings to the pace at work. The latest review was 21 days ago.
Overall, the 205 Newrez LLC employees give their leadership a grade of D, or Bottom 15% of similar size companies on Comparably. This includes specific ratings of their executive team, CEO, and manager.
Employees at Newrez LLC are mostly dissatisfied with their total compensation at Newrez LLC, which includes a combination of pay, stock and equity, and benefits.
Overall, employees at Newrez LLC are mostly dissatisfied with their team. 205 Participants grade the quality of their coworkers a D-. Less than half believe the meetings at Newrez LLC are effective, and the majority look forward to interacting with their coworkers.
The majority of employees at Newrez LLC believe the environment at Newrez LLC is negative. Most Participants believe the pace of work at Newrez LLC is extremely fast. About 48% of the employees at Newrez LLC work 8 hours or less, while 10% of them have an extremely long day - longer than twelve hours.
Overall, the employees at Newrez LLC are dissatisfied, based on their aggregated ratings of future outlook, customer perception, and their excitement going to work.
Joining Newrez LLC - Employee Onboarding
The prevailing opinion from employees about joining Newrez LLC is that the company was prepared on their first day. Newrez LLC employees concluded that their overall onboarding experience was positive. 100% said their direct manager was helpful with their acclimation during the first 90 days. First impressions are important, and how prepared a company is on your first day leaves a lasting impression.
Newrez LLC KPIs and OKRs
At Newrez LLC 100% of employees think their department KPIs and OKRs are clear. Employees’ understanding of Newrez LLC's KPIs and OKRs is essential for its success. Out of 2 Newrez LLC employees who’ve answered, “Are your company’s goals clear and are you invested in them?” 1 have said yes.
Are your company's goals clear, and are you invested in them?
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Newrez LLC CEO & Leadership
Newrez LLC CEO - Baron Silverstein
48 /100
Newrez LLC’s CEO Baron Silverstein started in this role in 2020. Baron’s approval rate is lower compared to CEOs at similar sized companies, putting Baron in the Bottom 5% of all CEOs of similar-sized companies on Comparably, and in the Bottom 10% compared to CEOs of all other companies in Trenton, NJ. Baron Silverstein’s employees rank Newrez LLC in the Bottom 35% for Office Culture, in the Bottom 35% for Professional Development, and in the Bottom 25% for Manager. Silverstein is generally unpopular with Newrez LLC employees, but ranks especially low with employees in the Operations department, and by African American/Black employees and Male employees. However, employees in the Finance department have a slightly more favorable view of the CEO.
Newrez LLC Leadership
The Newrez LLC Executive Team is rated a “D” and led by CEO Baron Silverstein, Senior Vice President Charles DiPino, and Vice President Operations Todd Stiverson
Baron Silverstein CEO / President
Baron Silverstein serves as the CEO / President of Newrez LLC.
Charles DiPino Senior Vice President
Charles DiPino serves as the Senior Vice President of Newrez LLC.
Todd Stiverson Vice President Operations
Todd Stiverson serves as the Vice President of Corporate and Correspondent Operations of NewRez, LLC. Todd has been with... read more
Lisa Schreiber SVP Correspondent Lending NonQM
Lisa Schreiber serves as the SVP Correspondent Lending NonQM of NewRez, LLC. Lisa has been with the company since July... read more
Kathy Stiewe Channel Operations Executive
Kathy Stiewe serves as the Channel Operations Executive of Newrez LLC.
Carl Lutz Chief Compliance Officer
Carl Lutz serves as the Chief Compliance Officer of Newrez LLC.
Diane Keane VP, National Correspondent Non-QM
Diane Keane serves as the VP, NON-QM NATIONAL CORRESPONDENT of NewRez, LLC. Diane has been with the company since July... read more
Heather LaBelle Vice President - Retail/Joint Venture Underwriting
Heather LaBelle serves as the Vice President - Retail/Joint Venture Underwriting of Newrez LLC.
Frank Antico Vice President
Frank Antico serves as the Vice President of Newrez LLC.
Newrez LLC Salaries
How much does Newrez LLC pay?
How much do people at Newrez LLC get paid? See the latest salaries by department and job title. The average estimated annual salary, including base and bonus, at Newrez LLC is $120,741, or $58 per hour, while the estimated median salary is $119,980, or $57 per hour.
At Newrez LLC, the highest paid job is a Director of Sales at $203,285 annually and the lowest is a CS Rep at $47,573 annually. Average Newrez LLC salaries by department include: Sales at $140,425, Design at $115,263, HR at $111,617, and Operations at $137,641. Half of Newrez LLC salaries are above $119,980.
87 employees at Newrez LLC rank their Compensation in the Bottom 20% of similar sized companies in the US (based on 264 ratings) while 85 employees at Newrez LLC rank their Perks And Benefits in the Bottom 10% of similar sized companies in the US (based on 86 ratings).
Salaries contributed from Newrez LLC employees include job titles like Product Manager and IT Manager. Comparably data has a total of 2 salary records from Newrez LLC employees.
Last updated a month ago.
| Summary | Salary Range | Percentile |
|---|---|---|
1st Percentile $69k | $69k | 1st Percentile |
17th Percentile $91k | $91k | 17th Percentile |
33rd Percentile $120k | $120k | 33rd Percentile |
50th Percentile $166k | $166k | 50th Percentile |
67th Percentile $221k | $221k | 67th Percentile |
83rd Percentile $237k | $237k | 83rd Percentile |
100th Percentile $279k | $279k | 100th Percentile |
$120,741*
Average Compensation
$119,980*
Median Compensation
* Estimated salaries Estimated salaries are based on data provided anonymously by employees and/or estimated by other statistical methods.
Newrez LLC Salaries by City
Newrez LLC Salaries by Department
Diversity & Inclusion at Newrez LLC
Diverse employees at Newrez LLC score the company 52/100 across various culture categories, placing Newrez LLC in the Bottom 15% of companies on Comparably with 1,001-5,000 Employees for Comparably's diversity score. The Diversity score provides insights into how diverse employees feel and rate their work experience at Newrez LLC across various culture dimensions.
Ranked Culture the Highest
Ranked Culture the Lowest
Newrez LLC Perks & Benefits
Health & Wellness
- Dental Insurance
- Vision Insurance
- Health Insurance
- Life Insurance
Paid Time Off
- PTO / Vacation Policy
- Paid Holidays
- Maternity / Paternity Leave
Financial Benefits
- 401K / Retirement Plan
- Tuition Reimbursement
Newrez LLC PTO
Newrez LLC's PTO and Vacation policy typically gives 15-20 days off a year. Paid Time Off is Newrez LLC's most important benefit besides Healthcare when ranked by employees, with 100% of employees saying it is the most important benefit. Newrez LLC's benefits and PTO Package averages to represent a $1500 - $2500 cash value per month.
Other than healthcare, which of the following benefits is most important to you?
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Newrez LLC Careers
Newrez LLC Jobs
No Recent Jobs found for Newrez LLC on Comparably
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H1B Visa
In 2019, Newrez LLC applied for 1 H1B visas. Of the work permits applied for, 100% were approved.
Work Permit Application Outcome
1
Total Applied
H1B Applications Outcome
- 100% Granted (1 out of 1)
- 0% Denied ( out of 1)
- 0% Withdrawn Application was withdrawn by the employer before approval/rejection ( out of 1)
- 0% Certified-Withdrawn Application was approved but later withdrawn by employer ( out of 1)
This data was calculated using publicly sourced data from OFLC Performance Data
Let Newrez LLC Know You Want To Work There
Overview of Candidates Interested in Newrez LLC on Comparably
Candidates By Department
Customer Support | 50% | |
|---|---|---|
All Industries | 25% | |
Design | 25% |
Candidates By Location
Allentown | 25% | |
|---|---|---|
New York City | 25% | |
Austin | 25% | |
Milford | 25% |
Frequently Asked Questions regarding Newrez LLC
What is Newrez LLC address?
Newrez LLC location is at 1100 Virginia Drive, #125
Who is the CEO of Newrez LLC?
Newrez LLC CEO is Baron Silverstein, their score by employees is 48
What is Newrez LLC eNPS?
The eNPS for Newrez LLC is -45
What is the salary for Recruiter in Newrez LLC?
Recruiter average salary in the US is 98k
What are the salaries in the Sales in Newrez LLC?
The average salaries for Sales in Newrez LLC is 140k
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