Stay away from New Day Financial. They are a horrible company that take advantage of people who are in desperate need of help. Their Customer Service is terrible and their closing cost are unheard of, but as I said they take advantage of people who desperately need help.

My wife & I just spent almost 2 months dealing with NewDay Financial~ we were approved but needed this & then that. It was a nightmare of them promising to close then coming up with one more thing they needed that the underwriter wanted.The only reason we went to them was to consolidate some debt that we had,well that debt cost us 400 in an appraisal and a lot of grief and stress for my wife. I fully intend to contact the BBB and anyone else who will listen of these shady business practices.

Hi Guest...First I want to point out that I do not work for New Day Financial, nor am I affiliated with them in any way.

I'm not defending them...but sometimes this is just how it goes. With more guidelines and restraints being put on lenders sometimes this can result in an underwriter asking for more information. And it can become excessive at times. The appraisal fee is just part of the whole process and is a requirement for a home loan.

I hate to say this, if you were so dissatisfied with the company then why did you close with them? You could have went with another company. Most of the time, if you are approved with one company you are approved with someone else as well. Especially if it's an FHA loan. Anyone who is licensed to do FHA can do the loan.

I do apologize that your experience was not a good one, but you as the consumer have a right to go elsewhere to get the loan done.

I used to work for New Day. The people who run the company are only interested in one thing...charging their clients as much as possible.

I do not know how NewDay Financial works now. I know that they reorganized their focus from Over Equity loans to FHA loans. I would suggest for any new customer to pay special attention to fees charged. The recommendation to try out a bank is a good one. Get several options when you are getting a loan to make sure you are getting the best deal. Most companies can do the same things when it comes to refiancing. I know in the past that NewDay would specifically max out their section 32 guideline, which regulates fees charged. If a salesman submitted a loan with fees that were less the $200 below the fee limits, the salesman was required to re-work the loan and charge more. The practices of the company when they participated in over equity lending can be considered predatory, but I can not speak for what they do now. Just get options when you refi. They will probably try to tell you that if you shop around and get more credit reports pulled then your credit scores will drop and you wont be able to refi at all. In most cases this is a sales tactic so be wary. Credit bureaus will not penalize you for trying to get a good deal.

I hope we're not discussing New Day Financial in Newark, New Jersey. If so, BEWARE!!!! I'm trying to get my money back for a loan modification. They are a rip off!! I've filed a complaint with the better business bureau and I'm looking for anyone else who has been scamed for loan modifications so we can join together and file a class action suit. Now they are under a new name "Uzor & Associates".. they were bought out by a law firm, and the same folks still work there!! If you are trying to get your money back call the law firm of Mandelbaum Salsburg in New Brusnwick, NJ today!

Listen, i used to work for this company (then called Community Bank of Northern VA-Fidelity First) back around the turn of the century, located in the Ryland bldg in columbia md. All of the stories above have a lot of truth to them. Here is some insight

1) Potential Employees-Yes, it is true, you can make a boatload of money, i knew people easily bringing in $150K-$200K a year.....that being said, the "integrity" in that place was severly lacking. We were told by the CEO in one morning staff meaning "i don't care if you gotta sniff 3 lines in your cube before jumping on the phone, you need to be energetic and to the point! GET THOSE DOCS!!! I WANT LOANS!!!!" He would run up and down the halls yelling like a maniac (i think he'd been doing the lines now that i think about it). Sometimes, he'd actually be counterproductive as my customers would hear him and be turned off. Now for me, i was basically fresh out of college and this was my first 'career' job. Definitely not the type of environment i was expecting. For all that, i would have just taken a job offer in NYC as a broker where i at least expected that type of environment. I stayed there a few months, made a good amount of money during my short stay, but knew this wasn't the place for me. Furthermore, the management would CONSISTENTLY change the quotas AT WILL. When i started, we got 30% of commission, within ONE month, it dropped to 20%, and there were more stipulations (minimums, etc). Also, you will work atLEAST 65 hours a week (monday-thurs was 9-9, friday was 9-6, and you worked every other saturday). This may or may not be an issue for you. It wouldn't have really much of an issue for me, if i felt i was truly getting some career development instead of just SELLING for 65 hours and doing the same thing over and over, collecting docs, closing loans, gettin paid. Granted, this may be exactly what you are looking for, but i was looking for something more deserving of my 4 years of education...it really wasn't about "making money" so much as it was about feeling valued. Shortly after leaving that 'job' i started my career with a very respected government and defense contractor. I've since received my MBA (on the company) and have traveled the world, negotiating contracts and conducting financial analysis. Needless to say, 10 years later i'm still with my current company. I just threw that in to show the difference between the two organizations. One nurtured career development and long term stability, the other pushed "make as much money as you can, and burn yourself out in the process." I guess its really what you are looking for.

2) Potential Borrowers-I worked here during the 125% LTV days, where you could pull out more than the value of your home. The rates werent particularly good (but they would be good in this environment considering its all but impossible to get a 2nd), but there were really limited options for this type of loan. This was their bread and butter, and we pushed this at every opportunity. The basic mode was, Hook the customer, GET THE DOCS, and get the loan signed ASAP. After that, ignore the customer for 3 days (the period in which they can change their mind). At least that's what i took away from it. We were also told to use statements like "I need your docs right away or your credit score will expire" when we knew scores were good for 35 days (maybe 40, but definitely not 5). So again, you gotta remember you are being sold a product. Of course any sales person "stretches" the truth, but there seemed to be a lot of that going on in my opinion. Also, the back end points are what you REALLY pay for. Thats how we really used to make money off the loans. I knew people that were able to pile on an additional 5-8 points onto a loan, you wouldn't believe how they were able to fenagle that. But i guess the customer should be aware of what they are getting into. I know personally i would never sign up for a loan without know exactly how every number was calculated.

All in all, in my OPINION, if this company is run anything like the previous company (with the same people), i'd probably stay away, but like with anything, you just have to know what you are getting into.

i am glad i thought to google this company and found many complaints , i have just been saved alot of heart ache!

i am wondering who posted the "good old days post" i worked there during same time period and am sure you know my name. i agree with your posts as well.

Is this the New Day Financial out of Maryland?

Is this the New Day Financial located in Maryland??

NewDay is headquartered in Fulton, MD. As a former employee, I would strongly recommend everyone (potential employees and customers) to stay as far away from them. Senior management is not professional by any means and they lack business ethics. There is a high level of turnover and many employees were very unsatisfied. You can find much better places to work or get a loan.

to those asking, yes this is new day financial in maryland, they have since moved offices from when i worked there. I didn't intentionally come here to bash them or whatnot, for some reason, it popped into my head so i decided to google just to see if it was still there, cause i met a couple people working there that were cool peoples. This site was the first thing i found, and as i read some of the posts, i couldn't help but chuckle because of the accuracy/similarities of some of the stories.

Again, i'm only stating my opinion of things i readily saw/observed/experienced during my short stay there. To "old employee" if you worked there during the summer/early fall of 1999, you surely would know me, thats about all i'm going to say for now, for all i know, based on my perception of the owners integrety, you may be baiting me to disclose my identity so you can slap a "slander" lawsuit on me, LOL. Thats why i say these are just my experiences/opinions of what i saw/observed/experienced while there....your results may vary!


I'll throw a hint out there, i am a male dispite the random avatar of a female face created by my original post

to those asking, yes this is new day financial in maryland, they have since moved offices from when i worked there. I didn't intentionally come here to bash them or whatnot, for some reason, it popped into my head so i decided to google just to see if it was still there, cause i met a couple people working there that were cool peoples. This site was the first thing i found, and as i read some of the posts, i couldn't help but chuckle because of the accuracy/similarities of some of the stories.

Again, i'm only stating my opinion of things i readily saw/observed/experienced during my short stay there. To "old employee" if you worked there during the summer/early fall of 1999, you surely would know me, thats about all i'm going to say for now, for all i know, based on my perception of the owners integrety, you may be baiting me to disclose my identity so you can slap a "slander" lawsuit on me, LOL. Thats why i say these are just my experiences/opinions of what i saw/observed/experienced while there....your results may vary!


I'll throw a hint out there, i am a male dispite the random avatar of a female face created by my original post

to those asking, yes this is new day financial in maryland, they have since moved offices from when i worked there. I didn't intentionally come here to bash them or whatnot, for some reason, it popped into my head so i decided to google just to see if it was still there, cause i met a couple people working there that were cool peoples. This site was the first thing i found, and as i read some of the posts, i couldn't help but chuckle because of the accuracy/similarities of some of the stories.

Again, i'm only stating my opinion of things i readily saw/observed/experienced during my short stay there. To "old employee" if you worked there during the summer/early fall of 1999, you surely would know me, thats about all i'm going to say for now, for all i know, based on my perception of the owners integrety, you may be baiting me to disclose my identity so you can slap a "slander" lawsuit on me, LOL. Thats why i say these are just my experiences/opinions of what i saw/observed/experienced while there....your results may vary!


I'll throw a hint out there, i am a male dispite the random avatar of a female face created by my original post

We refinanced twice with NewDay, and there were no problems either time. Both people we dealt with were professional and knowledgable, and the process went exactly as was promised.

I am sorry to hear that others did not have the same experience, but it makes me wonder what challenges they brought to table. Coming from a sales based background, I know first hand that many times a customer demands more than can be delivered, and then blames everyone but themselves. A mirror offers more enlightenment than a pointed finger.