How to Pay Your Newrez Mortgage and Understand Your Account
How Newrez handles your mortgage payment
Newrez is a mortgage servicer—the company that collects your monthly payment, manages your escrow account (if you have one), and handles customer service for your loan. Newrez does not own your mortgage; they work on behalf of the investor who does. When you make a payment to Newrez, you are paying the servicer, not the lender.
Newrez processes payments through several channels: online through their website, by phone, by mail, or through automatic bank transfers. The payment method you choose affects when the money reaches your account and whether late fees apply. Most borrowers set up automatic payments to avoid missing a due date.
Your payment includes principal (the amount borrowed), interest (the cost of borrowing), and often property taxes and homeowners insurance if those are escrowed. Newrez collects the tax and insurance portions and pays those bills on your behalf, which is why your payment may be higher than just principal and interest alone.
Key Takeaways
- Newrez is your mortgage servicer, not your lender—they collect payments and manage your account on behalf of the actual loan owner.
- You can pay online, by phone, by mail, or through automatic bank transfer; online and automatic payments typically post faster than mailed checks.
- Your monthly payment includes principal, interest, and often property taxes and insurance held in an escrow account that Newrez manages.
- Late payments reported to credit bureaus after 30 days, so contact Newrez immediately if you cannot pay on time.
- Newrez offers forbearance and loan modification options if you are experiencing hardship, though these require you to contact them directly.
Setting up automatic payments with Newrez
Automatic payments remove the risk of forgetting a due date and typically post to your account faster than mailed checks. Newrez allows you to set up automatic transfers from your bank account through their website or by phone. You will need your bank routing number and account number, and you can choose the date each month when the payment withdraws.
Most borrowers choose the date their paycheck arrives or a few days after, so the money is in the account when the withdrawal happens. Newrez processes automatic payments through the ACH system (Automated Clearing House), which usually takes one to two business days to clear. If you set the payment date for the 15th of the month and your due date is the 1st, the payment will post after the due date—so choose a date early enough to arrive before your deadline.
You can change or cancel automatic payments through your Newrez online account at any time. If you need to stop a payment before it processes, contact Newrez customer service as soon as possible; once the ACH transfer initiates, it cannot be recalled.
Paying online, by phone, or by mail
Newrez accepts one-time payments through their website without setting up automatic transfers. Log into your account, select "Make a Payment," and choose your payment method—bank transfer, debit card, or credit card. Bank transfers are free; credit and debit card payments usually carry a fee of 2 to 3 percent. Online payments typically post within one to two business days.
You can also pay by phone by calling Newrez customer service. Have your loan number and payment amount ready. Phone payments process the same way as online payments and carry the same fees for card payments. The advantage of calling is that you can ask questions about your account balance or escrow status while you pay.
Mailed checks take longer to process—typically five to seven business days from the time Newrez receives them. If you mail a check, send it to the address on your statement, include your loan number on the check, and mail it at least ten days before your due date to avoid a late fee. Newrez does not charge a fee for mailed payments, but the slower processing time means you must plan ahead.
Understanding your due date and late payment consequences
Your mortgage due date is the same each month and appears on your statement. The payment is considered on time if it arrives by that date. Most mortgages have a grace period of 10 to 15 days after the due date; if you pay during the grace period, no late fee applies, but the payment is still recorded as late on your credit report if it arrives after the due date itself.
If your payment is 30 days late, Newrez reports the delinquency to the three major credit bureaus (Equifax, Experian, and TransUnion). This report stays on your credit report for seven years and significantly lowers your credit score. After 120 days of non-payment, Newrez may begin foreclosure proceedings, though they are required to offer you options before that point.
If you know you will miss a payment, contact Newrez before the due date. They offer forbearance (a temporary pause or reduction in payments), loan modifications (a change to the loan terms), and in some cases, payment plans that let you catch up over time. These options are only available if you reach out; waiting until you are already late makes it harder to negotiate.
Escrow accounts and property tax and insurance payments
If your mortgage includes an escrow account, Newrez collects a portion of your monthly payment and holds it to pay your property taxes and homeowners insurance when those bills are due. This protects the lender because unpaid taxes or a lapsed insurance policy puts the property at risk. Your monthly payment statement shows how much goes to principal, interest, taxes, and insurance.
Once a year, Newrez performs an escrow analysis to make sure the account has enough money to cover the coming year's taxes and insurance. If taxes or insurance rates rise, your monthly payment may increase. If the account has a surplus, Newrez either refunds the extra money or applies it to next year's account. If there is a shortage, your payment increases to make up the difference.
You can request an escrow account statement from Newrez at any time to see exactly how much is held and when bills will be paid. This statement is useful if you are refinancing or selling, because you need to know the escrow balance for closing.
Contacting Newrez and accessing your account online
Newrez customer service is available by phone, online chat, and mail. Your statement includes the phone number and mailing address. You can also create or log into your account on the Newrez website to view your balance, payment history, escrow statement, and tax documents. The online portal lets you make payments, set up automatic transfers, and update your contact information without calling.
When you call or contact Newrez, have your loan number ready. This number appears on your statement and in any correspondence from Newrez. If you are calling about a payment issue, also have your most recent statement available so you can reference specific dates and amounts.
Newrez is required by federal law to provide you with a monthly statement showing your payment breakdown, current balance, and due date. If you do not receive a statement, contact them immediately—missing statements can lead to missed payments by accident.
What to do if you are struggling to pay
If you cannot make your full payment, contact Newrez as soon as possible. Do not wait until you are late. Newrez offers several options depending on your situation: forbearance (a temporary reduction or pause in payments), a loan modification (a permanent change to your loan terms), or a repayment plan (spreading missed payments over several months).
To explore these options, call Newrez and ask to speak with a loss mitigation specialist. You will need to provide information about your income, expenses, and the reason you are struggling—job loss, illness, reduced hours, or other hardship. Newrez will review your situation and tell you which options you may be offered.
If you are behind on payments, Newrez may also direct you to HUD-approved housing counseling, which is free and can help you understand your options and negotiate with Newrez. You can find a counselor through the HUD website or by calling 1-800-569-4287.
Frequently Asked Questions
How do I know if my payment posted to my Newrez account?
Log into your Newrez online account and check your payment history, which updates within one to two business days of processing. You can also call Newrez customer service with your loan number and they will confirm the payment amount and date received. Keep a record of your confirmation number if you paid online or by phone.
What happens if I pay late but within the grace period?
You will not owe a late fee if you pay within the grace period (usually 10 to 15 days after the due date), but Newrez will still report the payment as late to credit bureaus if it arrives after the due date itself. The late report stays on your credit report for seven years, even if no fee was charged.
Can I change my payment due date?
Some servicers allow you to request a different due date, but Newrez policies vary. Contact Newrez customer service to ask whether they can move your due date. If approved, the change typically takes effect within one to two billing cycles.
What if I overpay my mortgage?
If you send more than your monthly payment, Newrez will apply the extra amount to your principal balance, which reduces the total interest you pay over the life of the loan. You can also request that the overpayment be held in a separate account, though this is less common. Call Newrez to confirm how they handled your overpayment.
Does Newrez charge a fee to pay by credit card?
Yes, Newrez charges a fee (typically 2 to 3 percent of the payment amount) for credit card and debit card payments. Bank transfers and mailed checks are free. The fee is added to your payment, so if you pay $1,500 by card with a 3 percent fee, you will be charged approximately $1,545.