NewDay Financial, a top reverse mortgage producer, announced this week that Julie McMillin Lee will assume the post of president of the company’s reverse mortgage division. Lee now manages the direction of the division in addition to selecting and training originators.
Lee has held several positions within NewDay over the course of the past nine years and in 2009 helped Fulton, Maryland-baesd NewDay launch its reverse division. Since then, she has led the company to become a top reverse mortgage producer, posting more than 600 reverse loans over the past year and consistently holding a top spot in the industry’s retail lenders list.
“As the reverse mortgage industry continues to make a positive difference in the lives of seniors we are very pleased that Julie will continue to lead NewDay in its efforts to provide the highest level of service,” said Rob Posner, CEO of NewDay Financial. “She has been instrumental in establishing and expanding our reverse division, allowing the company to help many senior homeowners reach their financial goals.”
New Day closed 553 reverse mortgages in 2010, according to ReverseBase adn was among the top 10 providers of reverse mortgages in the U.S. The company’s retail branch offices serve customers in select markets, including the Chicago, Philadelphia, Baltimore and Washington D.C. metropolitan areas.
Written by Elizabeth Ecker