Company Unfair to Minorities - Anonymous employee Newrez Employee Review

1.0
May 23, 2015
Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Their are 18 Vice Presidents at NPF, none African American, Hispanic or Asian. So it's a pro if you are white.

Cons

I've worked at New Penn Financial for 3 years and never received a raise. This wasn't do to performance, no one in the company received a raise. This was supposedly due to the harsh months of refinancing and home purchases that the company endured. However, this did not effect the VP's who drove to work in their newly purchased Mercedes Benz, BMW and Jaguars. I've even heard how while there are 0 Black managers at New Penn, they will bring in people from outside the company to manage black employees who have been there for years while they themselves have no experience. I've even heard of an employee who dangled a noose in a black coworkers cubicle, and he was not suspended or fired. All in all, if you are an ambitious white go-getter, New Penn Financial is the place for you. If you are a minority, Do Not work at this place!

Explore other reviews about Newrez

5.0
Jul 5, 2026
Recommend
CEO approval
Business Outlook

Pros

I get to work remotely. They have a good retirement plan/401K. I work autonomously with very little oversight, meaning there's no micromanaging. They are great with holidays and time off. Very inclusive and socially aware. Those are two reasons I've remained employed by them.

Cons

The salary is lower than preferred. I've worked two years with zero pay increase because "no pay increases for remoter employees". The health insurance is lacking and not fantastic, but I'm not sure that's really a con since nearly every health insurance plan in America is lacking.

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Newrez Response
1w
Thank you for sharing your feedback. We're glad to hear you value the time off and inclusive culture. We also appreciate your perspective on compensation and benefits. Feedback like yours helps us continue to evaluate and improve the employee experience.
2.0
Jul 1, 2026
Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

- Great work/life balance - Awesome coworkers - Lots of opportunities to try new things and be innovative

Cons

- Senior leadership does not value remote workers and doesn't get to know them/engage with them - Frequently lays off remote employees, regardless of performance, achievements, or job role, sometimes without offering options to move or relocate. They also on occasion use underhanded tactics to pressure remote employees to leave so they don't have to pay out severance. Lastly, unless required by your state's law, they never pay out your remaining time off - If you start underpaid, you will remain underpaid even after promotions - Job performance does not impact yearly bonuses/increases. Pay doesn't keep up with inflation

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Newrez Response
1w
Thank you for sharing your experience. Your feedback matters, and we’ll make sure it’s reviewed by our team as we continue working to improve. We appreciate you taking the time to let us know your thoughts.
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