NewDay USA Reviews

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NewDay USA

Overall Rating

3.9

252 Customer Reviews

Summary

NewDay USA is a mortgage lender that claims to provide a wide range of financial products that can help you save money and achieve your financial goals.

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Customer Reviews

3.9 Stars out of 252 Reviews
5 Star:66% 4 Star:5% 3 Star:2% 2 Star:4% 1 Star:19%
75% Recommend This Company
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Posted on Apr 21, 2017

Incompetent personnel

By Gerald Lynch, Ballwin, MO, Verified Reviewer

In December of 2016, I started a loan approval to purchase a house.

First, Sasha Malcolmson (the credit person assigned to me) was a complete "out-to-lunch" employee. I sent numerous copies of documents she requested and received no feedback and no phone calls. I left numerous messages to call me, with no return calls.

Then Teresa Ruck took over, and she was worse than Sasha. She promises that loan qualifications were on the way. On 4/7/2017 I informed Teresa that I put a contract on a house and needed loan commitment, and I have yet to hear from her. On February 5, 2017, I received a preliminary approval letter, which was three days AFTER IT EXPIRED.

Bottom Line: No, I would not recommend this to a friend

Company Response from NewDay USA

May 8, 2017

Thank you for taking my call today to discuss your recent experience with NewDay USA. Making the decision to shop for a new home, in potentially a different part of the country can be a very demanding event. Clear communication and the setting of expectations, regarding timelines, documentation, and next steps are important factors. On behalf of NewDay USA, we regret that your interactions with our company were less than satisfactory. If NewDay can be of further service, please contact us.

Respectfully,

R. Pek

Helpful Review? 21 People Have Voted

Posted on May 12, 2017

High income requirements

By Jeff DeVall, St. Johns, AZ, Verified Reviewer

You can have perfect credit, you can have a lot of assets like owning two homes free and clear, but if you make less than $1,725 a month, you won't qualify. Every other lender I talk to doesn't have these rigid income requirements.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 24 People Have Voted

Posted on Oct 11, 2017

Lie

By Harold Zastrow, Missouri, Verified Reviewer

I went to NewDay USA and applied for a loan, and when they called me, they said they do not finance manufactured homes. Their main page that you inquire on asks what type of residence and I checked manufactured home.

This is a complete lie, and nobody should use them.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 15 People Have Voted

Posted on Oct 22, 2017

Stay clear of them

By Nick Halford, Sheridan, OR, Verified Reviewer

As a Veteran, I applied for a loan to refinance my house. I filled out forms, sent them info and paid them a fee with one of my credit cards.

Once they collected the money, they vanished. Never returned phone calls or answered mails from me.

This is SCAM.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 20 People Have Voted

Posted on Mar 13, 2018

The worst experience I have ever had

By Milam Williams, California, Verified Reviewer

The person that handled my transaction made me feel like they were doing me a favor. The communication was lacking. I would ask for a call, and I would get an email. Every time I talked to their associate, the numbers would change. I asked him to break it down for me and he couldn't. I had to put the numbers into an Excel worksheet and break them down myself, so I could understand. I have gotten three couples that I know that are looking for a refinance to look elsewhere. I still have never received a call from a supervisor like I asked. I will continue to tell people my story on how poorly I was treated.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 5 People Have Voted

Posted on May 8, 2018

Service

By James A. Moore, Choctaw, OK, Verified Reviewer

I was scheduled to close on my house on the 13th of April 2018 and didn't end up closing until the 23rd of April 2018. Loan originator (Sasha Malcolmson, Assistant Vice President-Loan Origination) was always asking for more paperwork that was provided previously. She was good at telling me I was on a recorded line. I would have to follow up with the title company to see if they received paperwork from NewDay USA. After initially getting set up on my loan, when I would call I would always get the answering machine after and not get a call back except to tell me they needed new documents. My realtor was also having the same issues with getting any kind of response.

I will never recommend anyone to go through NewDay USA unless they want to have a headache for weeks and test their stress level. If I was Thomas C. Lynch, RADM (retired) I would take my picture off any NewDay USA advertisements. Very unsatisfied customer!

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 4 People Have Voted

Posted on Jun 1, 2018

Veterans be aware, do NOT use!

By Michael E., Idaho, Verified Reviewer

I was contacted by this company and given the best salesman pitch ever. Once asking what are minimum credit required for a VA loan, I was told that they've been known to Veterans financed at 580 and 590 Fico scores. Now given the fact that I've been paying rent at $1150 a month for 12 months, paid off two big loans totaling around $7k to $8k. This left me with only a few items left on my report - a truck loan at $895 a month and a car loan at $556 a month.

I had planned on paying off my Capital One card as well as a loan that was $215 a month and was going to pay off all additional small things on my report. Again this would leave me with the car and truck totaling $1451.00 a month in bills. Yet with a $4600 a month income and VA loans allowing 41% debt to income ratio, with my income this allowed $1879.85. As you can see, I well under that, and I only received a VA qualification for a $105k. Very sad to say the least.

Don't waste your time. I recommend you contact Veterans First Mortgage; they do understand Veterans and will give you a fare more reasonable qualification.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 2 People Have Voted

Posted on Jul 3, 2018

Extremely disappointed

By Charles O., Woodruff, WI, Verified Reviewer

Please stay away from this company. They have lied to us on more that one occasion and will promise you everything to get your business. Very deceitful agents working for NewDay USA. They all should be ashamed of themselves for their dishonesty.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 1 Person Has Voted

Posted on Jul 8, 2018

It's not very good.

By Ronald B., Nevada, Verified Reviewer

It was the worst experience I've ever had when buying a house. I was lied to, tricked, and had to keep sending the documents over and over again. "Someone kept losing my paperwork," and no one knew who it was. I spent thousands of dollars paying for hotels and moving trucks. This veteran was homeless for two months due to their people dropping the ball. I feel they owe me some money for the way I was treated. This company is the worst. Needless to say, we are very dissatisfied with NewDay USA! I will be consulting an attorney to recover the money their company cost me. I have also started a social media campaign against this company. Get your stuff together!

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 5 People Have Voted

Posted on Oct 15, 2018

Disappointed

By John B., Wernersville, PA, Verified Reviewer

We wasted a lot of valuable time jumping through hoops to get all the information asked for, and in the end, they did not help our situation. We discovered we should have talked to our original mortgage lender from the beginning.

Bottom Line: No, I would not recommend this to a friend

Company Response from NewDay USA

Oct 17, 2018

Thank you for this feedback. During the loan process, we often discover that additional documents are needed in order to supplement information that is provided. Unfortunately, based on the documentation provided, we were ultimately unable to offer a loan that met our guidelines. We regret that your experience was less than satisfactory.

Helpful Review? 2 People Have Voted

Posted on Jan 20, 2019

Bill consolidation/finance loan

By Mr. Marc F. P., Sequim, WA, Verified Reviewer

I contacted William Boyd and everything ran perfectly.

That is until days just before closing. I received an email from you that the loan interest had dropped. I call William up to find out if my loan interest rate had dropped. I had also tried to contact Trevor, (William's relief for the holidays) but so far neither one of them has given me the courtesy of returning my phones and my emails.

Bottom Line: No, I would not recommend this to a friend

Company Response from NewDay USA

Jan 23, 2019

We apologize for this gap in communication. We will have somebody from our team reach out to you today.

Helpful Review? 1 Person Has Voted

Posted on Feb 14, 2019

Not a good decision to go with NewDay USA

By RJ K., North Carolina, Verified Reviewer

NewDay sells your loans folks! Better read the fine print! They sold mine to a po-dunk outfit called Freedom Mortgage and they are a DISASTER! Just refinanced again in order not to deal with this incompetent mortgage company. Is NewDay a good refi for Vets? Heck NO! The current CEO is more about telling you how many years of service he has in his commercials rather than keep mortgages in-house for all vets. Keep in mind that they have been sued as well in the past by a veteran organization! It's a swindle. Warmest regards, Retired Commander.

Bottom Line: No, I would not recommend this to a friend

Company Response from NewDay USA

Feb 15, 2019

Thank you for reaching out to us. A servicing transfer is a common practice in the mortgage industry, and does not affect the terms and conditions of your loan. This practice makes it possible for us to serve more Veteran families. We are sorry to hear of your poor experience with Freedom, and wish you the best moving forward.

Helpful Review? 2 People Have Voted

Posted on Apr 15, 2019

HORRIBLE

By Brittany G., Oklahoma, Verified Reviewer

The lender we dealt with was AWFUL! We are two weeks past a 40-day contract and he is still coming up with answers such as "I don't know." DO BETTER! Find the answers! My seller is beyond frustrated and has considered not signing an extension unless his buyers switch loan companies. He doesn't answer emails very quickly - as in days - not hours. And he is NEVER friendly. My seller, who is an investor who closes 15+ properties a year, will NEVER go under contract with a buyer with a preapproval letter from NewDay USA again.

Bottom Line: No, I would not recommend this to a friend

Company Response from NewDay USA

Apr 16, 2019

Hello. Please email customerservice@newdayusa.com to provide the buyer's last name and the property address. We would like to look further into these issues.

Helpful Review? 6 People Have Voted

Posted on Jul 10, 2019

Careful

By Richard G., Indianapolis, IN, Verified Reviewer

Probably one of the worst experiences I’ve ever had.

I have less than perfect credit so my options were limited, I get that, but the amount of leg work and lack of communication is horrific! Title company couldn’t find a previous mortgage release I had to hunt it down. Went to that back four times to get the documents they wanted and each time it was "that’s not exactly what we need" but it was what they asked for...days for a callback, it’s my loan, keep me in the loop!

Got a call on Thursday afternoon, all good! We can close as soon as tomorrow night! Then no call until Sunday then it was oh, we need this...oh and I signed the closing discloser that Thursday.

A lot of mishandling and just bad business. Empty promises and dates they had no meaning of getting to.

Never felt like I was being taken care of.

Bottom Line: No, I would not recommend this to a friend

Company Response from NewDay USA

Jul 11, 2019

Thank you for this feedback. We try to request all of the necessary documentation at the beginning of the process, but further verification is sometimes necessary depending on the unique circumstances of the loan. We apologize for any communication issues and appreciate your patience.

Helpful Review? 2 People Have Voted

Posted on Sep 12, 2019

Not a pleasant experience

By Diane D., Lake Havasu, AZ, Verified Reviewer

I have refinanced thru NewDay before and it was a very pleasant experience but this time I believe my Loan agent Kevin Clough dropped the ball on many occasions.

We were supposed to close on the 18th of July and did not close until the end of August. He did not return my emails or phone calls and just kept giving pat answers which he had never followed up on to make sure it was done and did not follow up on my solar lien leaving me to finally handle it at the last minute to close. Weeks after he was informed of and given to documents needed to take care of. This experience has left a bad impression with me about NewDay.

Bottom Line: No, I would not recommend this to a friend

Company Response from NewDay USA

Sep 12, 2019

Thank you for bringing this to our attention. We apologize for any miscommunication that occurred and regret that you were not fully satisfied with your experience.

Helpful Review? 4 People Have Voted

Posted on Dec 12, 2019

HORRIBLE EXPERIENCE

By Marc R., Massachusetts, Verified Reviewer

The experience was horrible. Our rep Uchenna Ezealaji​ seemed to be inexperienced and everything felt disjointed and pieced together. I would not recommend NewDay, a very disappointing experience. I can't wait NOT to recommend AND will be telling everybody I know about my poor experience.

Bottom Line: No, I would not recommend this to a friend

Company Response from NewDay USA

Jan 21, 2020

Thank you for your feedback regarding your experience with NewDay USA and bringing this to our attention. Our goal is to provide excellent customer service and based on your comments we have fallen short of this goal.

Helpful Review? 3 People Have Voted

Posted on Jan 20, 2020

What a terrible experience!

By Staci N., Cincinnati, OH, Verified Reviewer

The entire process with NewDay was terrible! Initially, we were told it would take about 30 days to close which turned into almost 90 days. Communication was lacking throughout the entire process. Emails and phone calls would go days or even a week with no return response and we had to constantly reach out to get information. We were told everything was in order multiple times and ready to close and then they would come back to us with something else they needed. Many times we were told one thing and then it was found to be inaccurate. I would not go through this process again with this company. It was very stressful, to say the least.

Bottom Line: No, I would not recommend this to a friend

Company Response from NewDay USA

Jan 21, 2020

Thank you for this feedback. Although we try to request the necessary documents with one call, further documentation is sometimes necessary to support provided information. We apologize for the delay in your loan process.

Helpful Review? 3 People Have Voted

Posted on Apr 6, 2020

Horrible experience

By Willie P., Indiana, Verified Reviewer

Your process is anything but streamlined. After the first couple encounters with your representative, I told him I needed a new one due to his lack of being forthcoming, unresponsiveness and appearance of not wanting to meet our needs but only act to want to close the loan. I was notified that we were only waiting on a notary and then after numerous attempts to contact him, he went silent and I had to contact NewDay management to get a new representative assigned. I then found out we were not close to being ready to close. While the new representative was better, she was not quite what I would expect from a company that so highly touts itself. The notary portion for the closing was fine. There was no follow-up call to see if everything went fine at the closing. I would have expected this considering there were so many issues throughout the process. I would not recommend working with this company at all.

Bottom Line: No, I would not recommend this to a friend

Company Response from NewDay USA

Apr 7, 2020

Hello Willie,

Thank you for your feedback regarding your recent refinance transaction with NewDay USA. Our goal is to provide superior customer service, based on your comments, we fell short of this goal. Returning phone calls and emails as well as treating our customers with dignity and respect is expected of our employees.

Posted on Sep 14, 2020

No customer service

By Stephanie W., Farmington, MO, Verified Reviewer

On Monday, August 24, 2020, I submitted an online request to start the loan process with NewDay. By Wednesday, I had heard nothing so I completed a second online request. By Friday, August 28, 2020, nothing so I called NewDay using the number listed on their website. I spoke with a lady named Megan who assured me someone would be calling me within 24 to 48 hours. By September 3, 2020, I had not received a phone call, email, nothing from NewDay. So, I called and spoke with a man named Clarence. He could not help me so he transferred me to their cashout/loan team. The man I spoke with apologized, told me how busy they were, and assured me someone would get back with me shortly. Well, it is now September 8, 2020, and no one has bothered to call, email, anything.

It is irritating that NewDay touts their care for veterans and wanting to help veterans when my husband is a Vietnam veteran and they have shown no caring for his service whatsoever. I had to give them one star as that was the least I was allowed. However, if it were up to me they would have 0 stars. They are a horrible company to tout their caring for veterans and then not even return a phone call.

Bottom Line: No, I would not recommend this to a friend

Company Response from NewDay USA

Oct 27, 2020

Hi Stephanie,

We are saddened that we were unable to properly communicate with you and assist with your VA Home loan. We would love to look into this matter immediately. Please email customerservice@newdayusa.com. Thank you for sharing this review.

Posted on Sep 29, 2020

Misleading TV commercial

By Robert A., Fresno, CA, Verified Reviewer

Just one call can save you $3000 per year, that's $250 per month. I am a Veteran with a V.A. Loan and the best they could do is a savings of $19.00 per month. They advertise "no" W-2's or Tax Forms or Proof of Income, this is "not" true. NewDay wanted proof that I am a Disabled Veteran and proof of that income as well as my wife's proof of income, including any other income. They also wanted proof of eligibility even though I have a V.A. Loan that is verifiable. They also wanted to know what branch of service that I had been in, for how long, and had I been a Reservist or a Regular. And for the savings of $19.00 per month, it was going to cost me a little over $4000. Are you kidding me?! Do I look or sound like an idiot?! I don't think so. NewDay should be forced to stop the false TV advertising. And to the Admiral, do you have no shame?

Bottom Line: No, I would not recommend this to a friend

Pros and Cons

No “pros” were specified in this review

False ads

Scam

Company Response from NewDay USA

Oct 27, 2020

Hello Mr. Adams,

NewDay USA advertises and offers multiple loan programs to Veterans including a VA Cash Out loan program and a VA Streamline Refi program. The TV advertising that you reference is advertising for a VA Streamline Refinance program also known as the VA IRRRL loan program. VA does not require an appraisal on the loan since the program is designed to allow a veteran to refinance an existing VA loan. Advertisements for other loan products do not have the “no appraisal” language.

Posted on Oct 19, 2020

Totally unhappy

By Robert S., DeRidder, LA, Verified Reviewer

NewDay USA makes it sound so easy to get refinanced with no appraisal and no money down. That's false. I was even going to be charged for it. I had to do all my running to get the paperwork that was needed. This process took months. There was always something else they needed. I went with another company and was approved in a couple of weeks. I hate that I wasted my time with these people.

Bottom Line: No, I would not recommend this to a friend

Pros and Cons

No “pros” were specified in this review

Unprofessional

Lies

Treated like a number, not a person

Company Response from NewDay USA

Nov 13, 2020

Hello Mr. Smith,

Thank you for this feedback, we regret we were unable to help you with your financial goals at this time. We apologize for any inconvenience it may have caused.

Helpful Review? 2 People Have Voted

Posted on Dec 20, 2020

Unacceptable

By Joel Z., Prescott, AZ, Verified Reviewer

Experience #1: Closing papers lost, identities jeopardized. Second closing necessitated.

Experience #2: Mortgage sold to another company before the first mortgage payment made.

Experience #3: Property tax escrow fouled up to point over an hour on phone with new mortgage holder required. Problem still not resolved.

This is how NewDay USA treats vets!

Length of Use: 6–12 months

Bottom Line: No, I would not recommend this to a friend

Pros and Cons

No “pros” were specified in this review

Representatives consistently contradicted and corrected themselves

Unacceptable responses to client requests for correction of errors

Poor communication

Company Response from NewDay USA

Dec 29, 2020

Hello Mr. Zobitz,

A manager will be reaching out to discuss your concerns. If you don’t hear from a manager in the next 48 hours, please reach out to customerservice@newdayusa.com. Thank you for your patience, and we look forward to speaking with you.

Posted on Feb 15, 2021

Labor of love, BS!

By Steve H., Campbellsville, KY, Verified Reviewer

This is specifically for Alyssa and Admiral Lynch; I am telling the American Veterans what you are tonight, February 8, 2021. They will not refinance a manufactured home that books for $120,000 and that is insured for $120,000 plus contents on a permanent foundation. Located in Gods Country in Campbellsville, KY. FYI, last time I looked the VA guarantees manufactured homes on permanent foundations!

Bottom Line: No, I would not recommend this to a friend

Company Response from NewDay USA

Feb 18, 2021

We regret that we were unable to assist you with your refinancing needs. Currently, NewDay USA does not lend on properties secured by mobile/manufactured housing due to a limitation in our product offerings. Thank you for bringing your concerns to our attention.

Posted on Jul 14, 2016

Lengthy Application is Mandatory for Good Faith Estimate

By John, Florida, Verified Reviewer

Was just interested in getting a good faith estimate. Instead was sent a lengthy application full of unnecessary information and told that I needed to apply for a loan before they could give the GFE.

Shouldn't have wasted the little time I spent doing the inquiry. I would recommend you don't either unless you don't care about applying for a loan you might not even use.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 18 People Have Voted

Posted on Mar 5, 2018

Told one thing, something else happened!

By Charles R. Kann, Summerville, SC, Verified Reviewer

Total technology experience, no face to face (except appraiser and closing attorney), always dealing with computer, messages, and phone, however, this is 2018. The coordinator says one thing that will happen, however, in the end, two days before closing, it is a totally different story. Good news, the VA loan did close, however, for $30,000 less than we told we would receive for repairs. They way the funds were dispensed were totally unprofessional; if not dangerous in this third or fourth party system.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 5 People Have Voted

Posted on May 11, 2018

I don't know what this means

By Joe Evans, Grand Junction, CO, Verified Reviewer

The most drawn-out, hardest money I have ever obtained. Lord willing and the creek don't rise, I'll never have to borrow money from them ever again. I have said everything that needs to be said. Well, one thing, it sat in underwriting for two weeks with a complete package before them. My rep didn't understand why it was taking so long, either. Oh well.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 1 Person Has Voted

Posted on Jun 20, 2018

Don't take what you are told at face value

By Richard E., Las Cruces, NM, Verified Reviewer

I guess the lady I was dealing with was new. First I was told that my wife could not be on the loan. When I refused to sign the form as a sole purchaser, I was informed that gee, your wife can be on the loan after all. I was told I could pick any closing date I wanted. Due to the logistics involved, I wanted June 1st.

Two weeks prior to closing, I was assured everything was good to go for June 1st; plane tickets were purchased, reservations made, etc. A week later I was told I HAD to close on May 31st. When I started to refuse I was told that the title company and realtor had already agreed to the change and everything was set. So jumping through the hoops, we made it and closed on May 31st.

I was not happy with the service I received and will be informing all the veteran groups in which I am a member to advise everyone to approach NewDay USA being willing to double check everything you are told.

Bottom Line: No, I would not recommend this to a friend

Helpful Review? 1 Person Has Voted
Showing 28-54 of 252

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