NewDay USA CEO Rob Posner Announces Renewed Warehousing to Fund Operation Home

Nation's 8th largest VA mortgage lender has secured over $400 million in warehouse facilities

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May 06, 2019, 06:00 ET

FULTON, Md., May 6, 2019 /PRNewswire/ -- Rob Posner, founder and CEO of NewDay USA, the nation's 8^th largest VA mortgage lender, announced the company has renewed its warehouse facility with BankUnited for $100 million. The company now has a total of $400 million in warehouse commitments, that also includes Texas Capital Bank and People's United Bank.

These warehouse facilities will enable NewDay USA to achieve an expected 150 percent increase in the number of veteran families and military service members that obtain a VA Home Loan to purchase a home.

NewDay USA's goal is to become the #1 VA mortgage lenders in the U.S. for veterans and servicemembers. Posner said the company is well on its way toward its goal, with the company projected to serve 11,000 veteran families in 2019.

"Through a fintech business model, NewDay relies on proprietary information-based decisioning that focuses on making sure that every veteran may have the opportunity to take advantage of their VA home loan benefit," Posner said. "NewDay is able to qualify more veterans for VA loans and achieve the American Dream. Serving servicemen and women and veterans is all we do!"

Through its own training facility called NewDay University, NewDay USA produces a growing team of professionals trained specifically to help military service members and veterans. Posner attributes its Accelerated Underwriting Program and a greater understanding of the background of service members and veterans to the success of Operation Home.

About NewDay USA
NewDay USA is a nationwide VA mortgage lender focused on helping active military personnel, veterans, and their families achieve their financial and housing goals. NewDay USA is also a Ginnie Mae (GNMA) approved issuer/servicer. The company employs best practices in mortgage lending and career growth for mortgage professionals. Consistent with its mission, NewDay is a philanthropic partner of numerous organizations focused on assisting military veterans and their families in need. The NewDay USA Foundation provides four-year scholarships to the children of fallen and severely disabled military veterans to attend JROTC military high schools across the nation. The company is also a major philanthropic partner of the Medal of Honor Foundation, the USO, Boulder Crest Retreat for Military and Veteran Wellness, and is a major sponsor of the Military Bowl. Community service and giving back in the form of volunteerism also plays a significant role among the NewDay USA workforce. NewDay USA is a registered trade name of New Day Financial, LLC, which is a key holding of Chrysalis Holdings, LLC, a premier private investment company focused on the financial services industry. For more information about NewDay USA, visit www.newdayusa.com.

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Sam Garcia
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SOURCE NewDay USA