Rear Admiral Thomas C. Lynch Named Chairman of Board at Nationwide Mortgage Lender, NewDay USA, LLC

Outgoing Chairman Bruce Giacoma Remains Board Member, Managing Director of Secondary Marketing and Capital Markets

FULTON, Md.--()--NewDay USA, LLC, a nationwide VA, FHA and reverse mortgage lender, today announced that Rear Admiral Thomas C. Lynch (U.S. Navy, retired), a senior executive with impressive credentials in diverse disciplines, will serve as chairman of the board of directors of NewDay USA. Admiral Lynch succeeds outgoing-chairman Bruce Giacoma, who remains on the company’s board of directors and continues to serve as managing director of Secondary Marketing and Capital Markets.

“I am delighted and proud to accept the chairmanship of this company,” said Admiral Lynch. “There is potential for enormous growth in government mortgage originations and NewDay USA has all of the components needed to succeed: unsurpassed information technology, superior risk analytics, and lending industry expertise that reflects breadth and depth of experience. Most important, this company has a driving passion to serve military families, seniors and hard-working American homeowners.”

After a 31-year Naval career, which included command of the Eisenhower Battle Group during Operation Desert Shield and Superintendent of the U.S. Naval Academy, Admiral Lynch retired from the Navy with the rank of Rear Admiral in 1995. Following his retirement from the Navy, Admiral Lynch held senior executive leadership positions at Safeguard Scientifics, CompuCom Systems and The Staubach Company and has served as a director of several private and publicly held companies.

Admiral Lynch graduated from the U.S. Naval Academy (B.S.) in 1964 and earned a Master of Science degree from George Washington University in 1971. He was recognized as a U.S. Naval Academy Distinguished Graduate in 2010.

“Tom Lynch is an exceptional leader who will guide NewDay USA’s board as the company continues to pursue its vision and strategies for growth. Tom will bring the experience and leadership skills he gained during his 31-year Naval career, as well as his private sector experience, which includes private equity investment, financial services, and defense-related industries, as well as publicly and privately held companies,” said Robert Posner, CEO of NewDay USA.

Posner continued, “On behalf of everyone at NewDay, I offer sincere thanks to Bruce Giacoma. We can’t possibly offer sufficient praise for his efforts during his three-year term as chairman of the board. His perspectives and insights have been fundamental to our growth and execution of our strategic plans for success. We are honored that he remains on the board and will continue to provide his expertise in secondary marketing and capital markets.”

About NewDay USA, LLC

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 Financial
Charlyne H. McWilliams, 301-933-5567
or
Sheryl Gudelsky, 678-781-7229

Release Summary

NewDay USA announced that Rear Admiral Thomas C. Lynch has been named chairman of the company's board of directors. He succeeds Bruce Giacoma, who will remain on the board.

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Contacts

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