NewDay USA CEO Predicts Over 150% Increase In Firm’s VA Volume

Rob Posner, founder and CEO of NewDay USA, a national VA mortgage lender, said the company’s Operation Home Purchase Division is expected to enable 2,000 veteran and military families to purchase a home this year. The company expects its monthly purchase mortgage production to increase from 100 loans in March to 250 a month by the end of the year, a more than 150% monthly volume increase. 


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That additional loan volume is projected to lead to a 10 percent increase in overall originations at NewDay USA this year, well ahead of the mortgage industry at large. The Mortgage Bankers Association is forecasting a nine percent drop in refinance volume this year, while purchase-money lending is expected to increase by just five percent.  


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NewDay’s fintech-based model, which relies on analytics powered by information-based decisioning capabilities, is helping to fuel the company’s purchase loan growth. While every loan at NewDay USA is manually underwritten, the company has been wildly successful at leveraging its technology to approve applicants who were denied by other lenders, thus enabling it to increase its VA refinancing volume. NewDay is now applying that same technology to help originate home purchase loans, stated Posner.


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 “The American Dream is to own a home,” Posner said. “If anyone is deserving of the American Dream, it’s these men and women and their families who have served and protected our country. I am proud that the NewDay team can help them.” 


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In addition, Posner said NewDay USA is planning a nationwide, $100,000-per-week media campaign promoting its VA purchase loan business. Ads focused on veterans and active military service members who are thinking about homeownership will begin airing on CNN next week.