What NewRez bill pay is and how to use it
NewRez is a mortgage servicer that handles loan payments for borrowers whose mortgages it owns or services. If your loan is with NewRez, you can pay your monthly mortgage bill through their online portal, by phone, by mail, or through automatic bank transfers. The method you choose affects when the payment posts to your account and whether you can set it and forget it.
NewRez operates the bill pay system through their customer portal at newrez.com. To access it, you log in with your loan number and a password you create during first-time setup. Once logged in, you can view your current balance, due date, payment history, and remaining loan term. The portal also shows you exactly how much of each payment goes toward principal, interest, taxes, and insurance if those are escrowed.
Payment methods available through NewRez include electronic bank transfer (ACH), credit or debit card, check by mail, and phone payment. Each method has different processing times and fees, which we cover in detail below. NewRez does not charge a fee for ACH transfers or mailed checks, but does charge a fee if you pay by debit or credit card through their portal.
Key Takeaways
- NewRez's online portal at newrez.com lets you view your balance, due date, and payment history, and make one-time or recurring payments.
- ACH bank transfers and mailed checks are free, but card payments through NewRez's portal carry a fee that varies by card type.
- Payments made online typically post within one to two business days; mailed checks take seven to ten business days depending on mail delivery and processing.
- Setting up automatic monthly payments through ACH is the fastest way to ensure you never miss a due date, though you can still make manual payments anytime.
- If you cannot access the online portal or prefer not to use it, you can pay by phone at the servicer number on your mortgage statement.
Setting up your NewRez online account
To use NewRez bill pay, you first need to create an account on their website. Go to newrez.com and select the option to register as a new user. You will need your loan number, which appears on your mortgage statement, and your Social Security number or tax ID. NewRez will ask you to create a username and password and may send a verification code to your email or phone.
Once your account is active, log in and navigate to the payment section. Here you can view your loan details, including the current principal balance, interest rate, remaining term, and the date your next payment is due. The portal also displays your payment history for the past several months, which is useful if you need to confirm that a payment you made has posted.
If you forget your password or have trouble logging in, NewRez offers account recovery through email or phone verification. The customer service number is on your mortgage statement. Keep your login credentials in a safe place, and consider using a password manager if you use online banking for multiple accounts.
Making one-time payments online
Once logged in, select "Make a Payment" or a similar option in your account dashboard. NewRez will ask you to choose your payment method: ACH bank transfer, debit card, or credit card. If you select ACH, you enter your bank account number and routing number. NewRez will debit your account within one to two business days, and the payment posts to your loan immediately after.
If you pay by debit or credit card, NewRez charges a processing fee. The fee amount depends on the card type and is disclosed before you confirm the payment. Many borrowers avoid card payments for this reason and use ACH instead, which is free. However, some people use cards to earn rewards points or to float a payment for a few days if cash flow is tight.
Before you submit a payment, verify the amount. NewRez shows your minimum monthly payment due, but you can pay more if you want to pay down principal faster. Some borrowers pay extra toward principal to reduce the total interest paid over the life of the loan. Make sure you know whether your extra payment will be applied to principal or held as a credit toward future payments — this varies by servicer and sometimes by loan type.
Setting up automatic monthly payments
NewRez allows you to set up automatic recurring payments through ACH. This is the most reliable way to avoid late payments, since the money leaves your bank account on a date you choose each month. To set this up, log into your account, find the automatic payment or recurring payment section, and enter your bank details and the amount you want to pay each month.
You can choose the payment date, but it must be at least two business days before your loan's due date to ensure the payment posts on time. If you choose a date that falls on a weekend or holiday, NewRez will process it on the next business day. You can change or cancel automatic payments anytime through your account, though you should do this at least a few days before the scheduled payment date to stop it.
Automatic payments do not lock you in. If you receive a bonus or tax refund and want to pay extra one month, you can still make a separate one-time payment in addition to your automatic payment. Just make sure you do not accidentally pay twice in the same month if you are not careful about tracking.
Paying by mail or phone
If you prefer not to use the online portal, you can mail a check to the address shown on your mortgage statement. Write your loan number on the check so NewRez can match it to your account. Mail your payment at least ten business days before the due date to account for mail delivery and processing time. Mailed payments typically take seven to ten business days to post, so if you mail a check close to the due date, it may be recorded as late even if you sent it on time.
You can also pay by phone by calling the customer service number on your statement. A representative will take your payment information over the phone. Phone payments are usually processed the same day and post within one to two business days. There is no fee for phone payments, but you will need to provide your bank account number or card number verbally, which some borrowers prefer to avoid for security reasons.
Keep a record of any payment you make by mail or phone. Write down the date you mailed the check or the confirmation number the phone representative gives you. If a payment does not post within the expected timeframe, contact NewRez with this information so they can investigate.
Understanding payment posting and due dates
Your mortgage payment is due on a specific date each month, shown on your statement. If the payment is not received by that date, NewRez may charge a late fee. However, the date the payment is received and the date it posts to your account are not always the same.
Online payments made through ACH typically post within one to two business days. If you make a payment on a Friday, it may not post until Monday or Tuesday. If your due date is the 15th and you pay on the 14th, your payment might not post until the 16th, which could trigger a late fee. To avoid this, make online payments at least two business days before your due date.
Mailed checks take longer. The postal service delivers it, NewRez receives it, and then their processing team scans and records it. This entire process can take seven to ten business days. If your due date is the 15th and you mail a check on the 10th, it may not post until the 17th or later, resulting in a late payment. Mail payments at least ten to twelve business days before your due date to be safe.
If a payment posts after the due date, NewRez will charge a late fee. The amount varies but is typically 4 to 5 percent of your monthly payment. A late payment also appears on your credit report and can lower your credit score. If you are going to miss a due date, contact NewRez immediately to discuss options like a payment plan or deferment.
Fees and costs associated with NewRez payments
NewRez does not charge a fee for ACH bank transfers or mailed checks. These are the lowest-cost payment methods. If you pay by debit card through the NewRez portal, the fee is typically 1 to 2 percent of the payment amount. If you pay by credit card, the fee is usually higher, often 2 to 3 percent, because credit card processing costs more for the servicer.
Some borrowers use credit cards to pay their mortgage to earn cash back or points, then pay off the card balance with a lower-interest loan or savings. This strategy only makes sense if the rewards you earn exceed the card processing fee. For example, if your card gives 2 percent cash back and NewRez charges a 2.5 percent fee, you lose money on the transaction.
Late fees are separate from payment processing fees. If your payment posts after the due date, NewRez charges a late fee in addition to the regular payment. This fee is not optional and cannot be waived by paying online instead of by mail. The only way to avoid it is to ensure your payment posts on time.
What to do if you cannot pay on time
If you know you will miss a payment, contact NewRez before the due date. Do not wait until after you are late. Servicers have options for borrowers in temporary hardship, such as a payment deferment, forbearance, or loan modification. These programs are not automatic — you have to request them, and NewRez will review your situation to decide whether you may have access to.
A deferment allows you to skip one or more payments and add them to the end of your loan. A forbearance temporarily reduces or pauses your payment while you get back on your feet, though the missed amount is usually added back later. A loan modification changes the terms of your loan — for example, extending the term to lower the monthly payment — and is more permanent than deferment or forbearance.
If you fall behind and do not contact NewRez, the servicer will begin the foreclosure process after you miss payments for a certain period, usually 120 days. Foreclosure is a legal process that can result in the loss of your home. Contacting NewRez early gives you the best chance of working out an alternative.
Frequently Asked Questions
How do I know if my payment has posted to my NewRez account?
Log into your NewRez account and check your payment history. The most recent payment should appear within one to two business days if you paid online, or seven to ten business days if you mailed a check. If the payment does not appear by then, contact NewRez with your confirmation number or the date you mailed the check.
Can I change my payment due date with NewRez?
Some servicers allow borrowers to change their due date, but policies vary. Contact NewRez customer service to ask whether your loan allows a due date change. If it does, you may be able to move your due date to align with your payday or other income dates.
What happens if I pay extra toward my mortgage principal?
Extra payments reduce the amount of interest you pay over the life of the loan and can shorten the loan term. However, make sure NewRez applies the extra payment to principal and not to future payments or escrow. Call or check your account to confirm how the extra payment was applied.
Is it safe to give NewRez my bank account number online?
NewRez's website uses encryption to protect your information. However, if you are uncomfortable entering your bank details online, you can pay by mail or phone instead. Phone payments require you to provide your account number verbally, which carries the same security risk as entering it online.
What should I do if I think NewRez processed a payment twice?
Contact NewRez immediately with the dates and amounts of both payments. Provide any confirmation numbers you have. NewRez will investigate and issue a refund or credit if a duplicate payment was made. Do not assume it will correct itself — follow up until you receive written confirmation.