Complaints

This profile includes complaints for Newrez LLC's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Newrez LLC

  1100 Virginia Dr Ste 125 Fort Washington, PA 19034-3235

  
• 

  NewRez LLC

  6250 Old Dobbin Ln Ste 110 Columbia, MD 21045-5840

  
• 

  NewRez, LLC

  11020 David Taylor Dr STE 415 Charlotte, NC 28262-1103

  
• 

  Newrez LLC

  11911 Freedom Dr Ste 600 Reston, VA 20190-5629

  
• 

  NewRez, LLC

  4902 Eisenhower Blvd ste 215 Tampa, FL 33634

  

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:01/20/2023

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am a disabled veteran, single mother, and the Buyer in VA loan assumption #*********** with NewRez/**********. The Seller is also a disabled veteran. On 11/1/22, I submitted all requested documents, including a Uniform Residential Loan Application (URLA) and proof of income and assets to ********** Assumptions. On 11/10/22, ********** Assumptions said the package was submitted to NewRez for underwriting. On 11/28/22, NewRez loan officer advised I needed to submit documents again, including a new URLA, because he had not received everything from ********** Assumptions. I immediately submitted everything again. On 12/19/22, NewRez loan processor emailed "You are conditionally approved". I immediately provided everything requested in the conditional approval. On 1/5/23, NewRez loan processor emailed "your loan application has been conditionally approved". I immediately provided everything requested again. On 1/12/23, NewRez loan processor emailed "I have received an updated conditional approval". I immediately provided everything requested again. As of 1/19/23, I am still awaiting final approval. I have submitted many documents two and three times. I have been "conditionally approved" three times in one month. I complied with every condition immediately. We opened escrow in October 2022. It's now late January 2023, and two disabled veterans and their families are being denied the timely use of VA benefits by NewRez/**********. Proof of NewRez conditional approvals 1 to 3 are attached.

  

  Business Response

  Date: 01/24/2023

  January 24, 2023 
  Dear *** ********, 
  This letter is in response to your Better Business Bureau inquiry dated January 20, 2023, which was forwarded to NewRez Customer Advocacy Team concerning the referenced assumption application. We appreciate your patience while we researched this matter thoroughly.  
  In your inquiry you advise that you feel that you have provided everything requested to  complete your refinance, but Newrez is asking for additional information.  
  Our records reflect that you initiated a loan application on November 28, 2022, which was  conditionally approved on December 19, 2022, but please note that a conditional approval does not  represent a commitment to lend, as all conditions must be satisfied. Moreover, during the  underwriting review of the application, supplemental documents or information could be requested. 
  On behalf Newrez we apologize for delays in processing your loan application. Per the title  company you are scheduled to close your loan on January 26, 2023. If you have questions about your  closing please reach out to your loan officer Lacey H*** ****@newrez.com or at ###-###-####. Newrez firmly believes that your application was processed professionally and in accordance with all  applicable laws, regulations, and industry guidelines.  
  

  Sincerely, 
  Customer Advocacy Team 
  Newrez LLC

  Customer Answer

  Date: 01/25/2023

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.  However, the response is factually incorrect in that I initiated an application on November 1, 2022, with NewRez affiliate **********. The response fails to address the initial one-month delay while my application went from ********** to NewRez.
  
  Regards,
  
  ***************************
  

• Initial Complaint

  Date:01/13/2023

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  In August 2020 my husband ************ refinance our home. We have a copy of our closing documents from our loan that was refinance with Newrez in August 2020. The ones Newrez destroyed.. I have all the emails between ****************** and loan officer ******************** the ones who exploited Newrezs incompetence. Newrez closed on our house and then breach our contract and didn't tell us the truth. Because Newrez was trying to hide the fact that they closed on a house that had a lien on it from **************** that we didn't have a clue about because why would our pool company put a lien on our house 10 weeks after we bought it when they took my payments directly out of my account. There was no miss payments. Newrez tried to shift the blame on my husband **** and alleged he didn't report the pool that I bought that is in my name that I made the payments threw with my own separate account and paid the pool off and took the lien of our house. I'm not on the loan. Therefore what's on my credit don't reflect my husbands credit. That's a problem for Newrez. Newrez used from what they say (canceled reference loan) my husband signature from a canceled refinance loan and emailed it to *************** asking for a payoff quote. ************** with **************** contacted me when Newrez emailed him wanting a payoff quote using my husbands signature. Newrez forage my husbands signature. Newrez then started harassing my husband for payments specifically the August & September of 2020 mortgage payments after he closed on his refinance. My husband received bills for his newly refinance loan and old loan. Because of the harassing calls from Newrez demanding payments my husband became extremely stress of going without a mortgage payment so he gave in and made the August & September payments over $3,000. For three weeks after my husband made those payments he was harassed on a daily basis by Newrez stating they never received his payment. Newrez was trying to hide the breach of contract so of course they put my husbands money in a separate Newrez account until they figured out how to fix their big screw up. Since our issue was hired up then your representatives they didn't have a clue where my husbands money was and that's why they were harassing him for payment. Even Senior Sales Manager ********** emailed me asking for payment. The same payment my husband already made. What's he got to do with it? Senior Counsel ****************** emailed me for payment. How the h*** did he get involved? Because there was a breach of contract on Newrez part. Because Newrez had proven to us time after time they were all incompetent my husband stop making payments and started putting his mortgage payments in a separate account to prove my husband had his mortgage payments all along but no way in h*** was he going to give anymore money to Newrez until they got their **** together. Because of this Newrez continued to harass my husband for payments and then threatened us of foreclosure. My husband had no choice but to sign the motification with Newrez or Newrez was going to take our dream farm. The home that we put $65,000 down on. That we built up and Newrez illegally tried to take it away from us. We never had a problem paying anything of ours was just looking to save some money while the pandemic was going on. We have proven there has never been a issue in our finances. My husbands refinance was Never recorded. I still have the copy Newrezs notary left us the day he closed on the new refinance. ******************** confirmed in her email to me that Newrez had destroyed the copies they had. Then Newrez sells our loan off right after my husband signs the mortification. How convenient. Newrez breach the contract, made several fraudulent acts towards us, lied, cost us thousands, emotional stress from h*** for the past 2 1/2 making us think we were going to loose our home for Newrezs incompetence. Newrez commitment fraud against us.

  

  Business Response

  Date: 01/20/2023

  Thank you for contacting Newrez.
  
  Based on our research, we have determined that this issue was previously addressed in November 2020.  Please see attached letter dated November 2, 2020.
  

  Customer Answer

  Date: 01/26/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because: Newrez/********** please explain to me why my husband received this email requesting payment when my husband made these payments three weeks prior and Newrez refused to acknowledge it repeatedly sending emails for payment and calling my husband on a daily basis for payments he already made? Can Newrez explain to me why they closed on a house that had a lien on it before informing my husband before closing and then keeping the truth of what happen from us for weeks after closing? Why your customer service repeatedly gave us different reasons as to what might of happened? Can Newrew explain why they used my husbands signature from a cancelled refinance loan and emailed it to **************** for a pay off quote? 
  
  
  Regards,
  
  *************************
  
  
  
  
  
  
  
  
  

  

  Business Response

  Date: 03/21/2023

  Thank you for contacting Newrez.
  
  Based on our research, we have determined that this issue was previously addressed in November 2020. 

  Customer Advocacy

  Customer Answer

  Date: 03/23/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because: We are requesting a 250,000 settlement due to Newrezs illegal acts towards us after my husband refinanced his loan with Newrez on August 4th, 2020 and Newrez tried to cover it up with incompetence, lies, and fraudulent acts. Newrez cancelled my husbands refinance after closing and didnt inform us until a month later. Newrez fraudulently used my husbands signature that was on his closing contract with Newrez 3 months later and emailed it to ****************. This is fraud. As you can see from ******* email to me she admitted to using my husbands signature that was on a voided contract. Theres never a good enough excuse for using someones signature that was on a voided contract 3 months later. Complete fraudulent acts by Newrez. Then Newrezs attorney emails me wanting to settle and then emails me later stating he sees no errors after our request for a $525,000 settlement. Oh there was plenty of errors with fraudulent acts. As you can see this was NOT resolved. Newrez is lying. Again trying to cover up their fraudulent acts towards us threw BBB. 
  
  Regards,
  *************************
  

• Initial Complaint

  Date:11/22/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Short version: Consistent miscommunication, employee turnovers and underwriting mistakes make this a lender to avoid. On the day of closing they told us we were DENIED after giving the "Clear to close." Long version: Applied for a Home Equity Loan with New Rez. Promptly submitted all documents and paid the appraisal and credit score fee. After multiple delays and the need to restructure the loan several times on New Rez's end we were offered a closing amount much less than what we were initially approved for. We accepted the amount and were cleared to close by New Rez. The morning of closing, the notary did not show up. Neither our processor or anyone involved at New Rez answered our calls. We had made schedule adjustments with work to accommodate the closing. The loan officer at New Rez called me and explained that the loan was denied at the last minute due to our debt to income being to high, the loan amount, and the fact that the property against which the loan was secured was paid off. How is having a paid off property a problem?? I read this as discriminatory against clients who do not offer the most lucrative payoffs New Rez desires. I believe New Rez has determined that it is not profitable to lend us a small amount because they are afraid they won't get as much money back in interest on a small loan. All this while greedily taking appraisal and credit score fees during these difficult economic times and not even having the courtesy to notify us that--contrary to what we were told--the closing was not going to happen. This is another example of a big company taking advantage of consumers. Really disappointing.

  

  Business Response

  Date: 12/07/2022

  December 7, 2022 

  Dear *** ********,  
  

  This letter is in response to your inquiry with BBB that was received on November 23, 2022. In  your complaint, you stated you were attempting to obtain a Home Equity line of Credit. During this  process, you stated that communication was not efficient, there were multiple delays with the loan  application, and you had to provide documentation. You also requested an appraisal refund. 
  

  Newrez takes great pride in our relationships with our clients and takes allegations of potential  discrimination very seriously. It is our policy that all consumers and customers are treated without regard  to race, biological sex, sexual orientation, gender identity, color, creed, religion, national origin, marital  status, familial status, age, disability, military or veteran status, receipt of public assistance, or any other  protected status. 
  

  Our records reflect that you initiated a loan application on September 15, 2022, which was  conditionally approved on October 3, 2022, but please note that conditional approval does not represent a  commitment to lend, as all conditions must be satisfied. Moreover, during the underwriting review of the  application, supplemental documents or information could be requested. 
  

  Upon review, it has been determined that your initial loan application was not properly structured.  When calculating your debt-to-income ratio (DTI), we did not include the subject property monthly  payment. Once this error was discovered, it increased your DTI substantially. Please note that you  cancelled your loan application on November 21, 2022 
  Newrez has refunded the appraisal fee of $550.00 and the Credit reporting fee of $20.00 as a  courtesy. This was processed on November 23, 2022 and takes 7-10 business days to reflect on your  credit card. 
  

  On behalf of Newrez we apologize we are unable to meet your refinancing needs currently. If you  have any further questions, please contact us directly at [email protected] and we will assist  you. 
  

  Sincerely, 
  Customer Advocacy Specialist 
  Newrez LLC

• Initial Complaint

  Date:10/27/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I contacted NewRez regarding a refinance and was transferred to Brian W******, a loan consultant. While talking to him, i was told i would not have to pay the Mortgage payment for September. The process moved on and i did everything they asked me to do and made it through to closing. The date for the closing was scheduled for Sept 28th. Because of a computer glitch, i was told the closing was pushed back to October 3rd. I received another call telling me the closing had been pushed back again to October 5th because of the Newrez computer system. The closing took place on October 5th with an attorney. All documents were signed. Several days later, i was told i needed to pay the September mortgage payment which i immediately did. Several days after getting no response by email, i received a call telling me that my paperwork went to management and my loan refinance was canceled. I was told Brian W****** was supposed to call me about my loan but he never did. I sent Brian W******* an email demanding an explanation but never received an answer. Still have not heard anything about why/how my loan was canceled AFTER it was closed. I'm very disappointed with Newrez and how this all happened. Also, in the middle of the process, Caliber Home Loans which is also NewRez transferred $525 without any type of authorization from my bank account. I received the money back after calling and complaining but it was also blamed on a computer glitch.

  

  Business Response

  Date: 11/17/2022

  November 16, 2022 
  

  Dear *** ********,  
  

  This letter is in response to your inquiry with BBB that was received on November 4, 2022. In your complaint you stated you were attempting to refinance your loan officer Brian W*** told you  not to make a payment for September. You also indicated that you were closing on September 28th and the closing date was pushed out to October 5th and ultimately resulted in a denial of the refinance.  
  

  Please note that all contractual mortgage payments are due up until the funding date on any  new loan. Your estimated loan closing date was September 28, 2022, but the scheduled closing did  not occur until October 5, 2022. Upon our final underwriting review, it was revealed that your  September payment on your existing loan had not been made. The late payment resulted in the denial  of your application. Your appraisal fee of $525 was refunded back to you on August 17, 2022, as a  courtesy. 
  

  While we regret the loan application experience did not meet your expectations, we did not  find any information suggesting that you received disparate treatment during the loan application  process. We appreciate the opportunity to address your concerns, and should you have any questions  you may email us at [email protected].  
  

  Sincerely, 
  Customer Advocacy Specialist 
  Newrez LLC

• Initial Complaint

  Date:10/05/2022

  Type:Order Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  MY COMPLAINT DATES BACK TO JUNE 2022,THE NOTED LOAN CONSULTANTS ADDRESSED IN THIS COMPLAINT IS SOLELY DUE TO UNETHICAL BUSINESS PRACTICES. ********************** GATHER ALL MY INFORMATION, $600.00 FOR AN APPRAISAL AND $20 TO LOCK IN RATE ON JUNE 9, 2022, ONE PHONE CALL AND I HAD'NT HEARD ANYTHING ELSE FROM THIS PERSON WHICH PLACED ME IN A REALLY UNEASY AND UNCOMFORTABLE POSITION. I GAVE ALL MY PERSONAL INFORMATION AND PAYED FOR SERVICES AND NO FOLLOW UP CALL WAS UNPROFESSIONAL. THEREFORE I WAS FORCED TO FILE A COMPLAINT WITH ANYONE WHO WOULD LISTEN AND IN DOING SO, I WAS PUT IN CONTACT WITH THE SECOND LOAN CONSULTANT **************** AND AS SOON AS **************** REALIZE HE WAS NOT GOING TO MAKE ANY MONEY OFF THIS DEAL THE CALLS FELL OFF. **************** ALSO ASKED TO USE MY DAUGHTERS CREDIT AFTER INFORMING HIM THAT HER CREDIT HAD TAKEN DRASTIC HITS AND SHE HAS HER OWN HOME BUT THEY COULD CARELESS ABOUT DOING BUSINESS IN A ETHICAL FASHION. I HAVE REQUESTED A COPY OF THE $600 APPRAISAL REPORT AND THE NOTED COMPANY HAS FAILED TO PROVIDE ME WITH A COPY! *************************** Loan Consultant ******************************************** ************** *********************** Loan Consultant NMLS # ******* & GA *****, ******* ******* Regards, *************************

  

  Business Response

  Date: 10/19/2022

  Upon receipt of your BBB complaint this was escalated to the sales teams. Newrez did not meet your expectations. As a courtesy we are processing the refund of the appraisal fee back to the card used. Please allow 7-10 business days for this to reflect on your account. If you need anything else please email me at [email protected].

  Customer Answer

  Date: 10/28/2022

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  *************************
  

• Initial Complaint

  Date:08/05/2022

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I was recently reimbursed for an appraisal i should have never been told to get.. Thank you BBB.. I appreciate that help.. Within the past few months I sent in another requst which was completely different from the first issue....sounded like i could only send in a complaint regarding one thing at a time.. I received an email in July 2022 stating that my problem has been resolved and they are closing the complaint...... This was a different complaint (most important) .... I am in a SAM Shared Appreciation mortgage and have been trying to get out if it since 2021.. Time is of the essence.. I had the first appraisal in 2021 and appraiser sent all in and New Rez started working on my case to give me a fixed rate....good rate and all was suppose to close towards end of 2021.. I was told all looks great and ready to close and then ALL communication with me stopped.. Wow.. so wrong and stressful.. My house has gone up in value and not getting my fixed rate is penalizing me.. I want the fixed rate loan at what i was originally told.. It is all in my records.. I was told by a couple of people that the ball was dropped in my case and they are sorry.. Not a good answer to give me, Last manager (man) i believe his name was Fred was very nice but told me that things happen and they are always trying to improve. If I start all over with the process again he will moniter my file.. My house has gone up in value.. This is a shared appreciation mortgage! It is not my fault that these people never followed through.. loan# **********, ***********, ***********.. some inactive.. I really do not want to contact an attorney but i might need to.. Just want the fixed rate loan that was suppose to close at end of year 2021.. Time is if the essence and my shared portion will keep going up until this is resolved.. Thank you, ***** ******

  

  Business Response

  Date: 08/24/2022

  ****************,  If you would like to re-apply for a refinance, you may contact our Newrez Sales Team at ************.  Our records indicate that your last application was denied April 20, 2022, we do not have a current active refinance application with you at this time

  Customer Answer

  Date: 09/21/2022

  I do not know what New Rez is talking about........denied and closed on 4/20/2022.  Someone needs to review everything in my file..  All was ready to close..end of 2021, and then all of a sudden ....no more contact with anyone......??    I want my original request to get out of the shared appreciation mortgage to be honored..  I did my part.   The ball was dropped on my refinance .. Two New Rez employees actually told me that..
  
  As time goes by the value of my house goes up,  so the shared appreciation (that i want out of -and just have a fixed rate) is going against me.. I did my part..  I don't need to hear that people make mistakes and New Rez is always trying to improve..  We're sorry..  This is what I was told by a manager at New Rez on the phone..  This is not my fault..
  
  Please review my case and all emails to see what happened and just give me a fixed (I was told a good rate ) when it was suppose to close that week..
  
  That is all I am asking..
  
  Thank you,
  ***** ******