NewDay Financial LLC Changes Company Name to NewDay USA, LLC

Name change reflects growth and product menu expansion at the nationwide VA, FHA and reverse mortgage lender

FULTON, Md.--()--NewDay Financial, a national VA, FHA and reverse mortgage lender, today announced that the company’s Board of Directors has approved a name change to NewDay USA, LLC.

“At NewDay, we realized that the time had come to identify ourselves to our potential customers with a name that reflects both who we are and what we aspire to be,” said Robert Posner, CEO of NewDay USA. “Our strategic focus on serving the mortgage lending needs of veterans, military families and seniors has resulted in significant levels of growth.“

To ensure operational excellence, NewDay USA has formed the FHA Direct Division, which will focus exclusively on FHA and conventional purchase and refinance mortgages. The division plans to open two call centers – one in Maryland and another in Orange County, Calif. – to support its originations platform.

“The industry is currently under-serving the government loan sector,” Posner continued. “Given NewDay’s focus on information-driven marketing and risk analytics, we are able to offer home financing solutions to meet the needs of American families while ensuring superior loan performance. The name, NewDay USA, communicates that capability to prospective customers, and it underscores our commitment as a responsible, nationwide industry leader in VA, FHA and reverse mortgage loan originations.”

The company’s new website, www.newdayusa.com, provides consumers with transactional capabilities, as well as information about VA, FHA and reverse mortgage loan programs.

In addition to loan originations, NewDay has experienced considerable growth since launching its loan servicing business line. As a Ginnie Mae-approved seller/servicer and a VA-approved lender, NewDay’s loan servicing portfolio currently exceeds $500 million in government loans.

“We are committed to growth through strategies that are disciplined, focused and ever-mindful of the needs of our core customers—military families, seniors and hard-working American homeowners,” Posner added. “With our unique capabilities, NewDay USA intends to lead the mortgage industry in government lending.”

About NewDay USA

NewDay USA, 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.newdayusa.com.

Contacts

for NewDay USA
Charlyne H. McWilliams, 301-933-5567
or
Sheryl Gudelsky, 678-781-7229

Release Summary

National VA, FHA and reverse mortgage originator changes its name to better represent its commitment to borrowers across the country and its expanding product offerings.

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Contacts

for NewDay USA
Charlyne H. McWilliams, 301-933-5567
or
Sheryl Gudelsky, 678-781-7229