Chrysalis Holdings, LLC has acquired several members from Abacus Mortgage Training and Education for the advancement of one of its holdings, NewDay USA.
Abacus founder Paul Donohue and two others will join the leadership at NewDay in support of the company’s in-house training center NewDay USA University.
Donohue will be joining the NewDay team to serve as Dean of the company’s training “University,” where he will manage and oversee curriculum design devoted to housing finance sales, service and compliance issues.
With mortgage and housing industry experience spanning more than 30 years, Donohue is also a nationally renowned speaker and educator in the lending industry. He is also the author of numerous training courses approved for federal and state mandated requirements.
Joining him from Abacus will be Tom Estes, Jr. and Joy Soler.
Estes, who served as compliance and curriculum developer for Abacus, is a nationally recognized regulatory compliance expert and author. He will be a member of NewDay’s compliance committee and will serve as a liaison between compliance and curriculum development.
Soler, who served as project manager at Abacus, has broad experience working with regulators to obtain curriculum approvals.
“We are extremely pleased to welcome Paul, Tom and Joy to the NewDay family. These three tremendous additions to our team will reinforce our University’s training programs,” said Rob Posner, chief executive officer of NewDay USA. “The overarching goal at NewDay USA University is to ensure all of its graduates are knowledgeable, well-rounded mortgage banking professionals.”
NewDay is one of the nation’s leading mortgage companies serving homeownership needs of veterans by providing VA, Federal Housing Administration, reverse and conventional mortgage loan products.
Through the establishment of its University training program, the company looks to train and educate not only the next generation of mortgage professionals, but provide training to current professionals to keep up with the regulatory environment.
NewDay announced expansion plans for the launch of its training program late last fall.
The NewDay USA University training center also provides a formal setting for programs for new hires, who undergo a rigorous eight-week training program that includes best practices in the mortgage industry, and specific training in areas such as solution-based selling and extensive loan pre-qualification processes.
“Our goal is to build the best company in mortgage banking. The addition of Abacus and its superior educational curriculum to our holdings supports this goal. It also further advances our company’s commitment to the long-term success of our nation’s housing industry and homeownership,” said Joseph C. Murin, chairman of the board at Chrysalis Holdings.
Written by Jason Oliva