NewDay Tapped as Exclusive Mortgage Provider for VFW

NewImage.jpgNewDay Financial announced it has been selected by the Veterans of Foreign Wars (VFW) as its exclusive mortgage provider for group’s members.  Through the partnership, the Maryland based lender will provide VFW members with FHA, VA first mortgages, and reverse mortgages.

“NewDay Financial demonstrated to us that they help their customers make the right choices,” said Lawrence M. Maher, Quartermaster General, VFW. “The company’s loan specialists are committed to working in an honest, open and respectful way with servicemen and women, veterans and their families to achieve their financial goals.”

Bruce Giacoma, chairman of NewDay, said that families across the country have lost their homes, jobs, and retirement savings since the economic collapse caused by dangerous practices in the financial sector. “As we move forward, it will be the firms which embrace consumer protection measures that will be successful in the marketplace,” he said. “That will be good for the mortgage industry, the financial system and most importantly for American families.”

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“NewDay Financial is enormously honored to be selected by the VFW to be its mortgage lending provider,” Giacoma said. “Our company is focused on quality mortgage products and outstanding customer service to the men and women of the U.S. Armed Forces and our country’s veterans.”

NewDay made quite an entrance into the reverse mortgage business during the first couple of months originating HECMs. In November 2009, NewDay endorsed 148 HECMs but volume has slowly fallen since then.  However, the company is still the 12th largest reverse mortgage lender through June according to data from the Department of Housing and Urban Development.

For more data on NewDay, check out their listing on ReverseBase.