NewDay Financial Servicing Portfolio Reaches $500 Million in Government Loans

Mortgage lender continues to grow portfolio each month, attributing quality loans to strong analytics

CHICAGO--(BUSINESS WIRE)--NewDay Financial, a national VA and reverse mortgage lender, announced today at the 98th Annual Mortgage Bankers Association Convention & Expo that the company has built its servicing portfolio to more than $500 million in government loans. NewDay Financial has been servicing government loans for almost two years, and to date has serviced more than 3,000 loans.

“By using strong analytics, we can originate and service the best quality loans and continually grow our portfolio on a monthly basis. This milestone represents NewDay’s continued dedication to working with veterans, ensuring they have a solid opportunity to achieve and maintain homeownership.”

Approximately 85 percent of the company’s portfolio consists of VA loans, the remainder are FHA loans. NewDay’s seriously delinquent loan rate is well below the national average, which the company attributes to its use of powerful data analytics and information technology.

“When NewDay became Ginnie Mae approved, we were already equipped with the talent and knowledge to securitize and service loans, positioning us for this quick and ongoing progression,” said Bruce Giacoma, chairman of NewDay Financial. “By using strong analytics, we can originate and service the best quality loans and continually grow our portfolio on a monthly basis. This milestone represents NewDay’s continued dedication to working with veterans, ensuring they have a solid opportunity to achieve and maintain homeownership.”

NewDay Financial is a nationwide VA and reverse mortgage lender that provides a range of loan programs to meet consumers’ various financial objectives.

About NewDay Financial, LLC

NewDay Financial, LLC, is a nationwide VA, FHA and reverse mortgage lender offering a wide range of mortgage-based products to homeowners with a variety of needs and goals. The company is the exclusive provider of mortgage lending for Veterans of Foreign Wars (VFW) members. The company is also a HUD-approved reverse mortgage lender, and in 2010, was among the top 10 providers of reverse mortgages in the U.S. Retail branch offices serve customers in select markets, including the Chicago, Philadelphia, Baltimore and Washington D.C. metropolitan areas. For more information, visit www.newdayveterans.com or www.newdaycareers.com.