The exec says the company's VA loan production is on an upward trajectory
The founder and CEO of NewDay USA, a national VA mortgage lender, has predicted year-over-year growth of 10% in VA loan volume in 2019.
NewDay USA’s total loan volume for this year is expected to reach $2.4 billion, compared to $2.2 billion in 2018, said NewDay USA CEO Rob Posner. Posner said he expected the company to see 11,000 residential loan originations this year, with its Operation Home purchase division helping 2,000 veteran families purchase homes by the end of the year. The Operation Home campaign is aimed at underserved veterans and first-time homebuyers, and features a team trained specifically to help military borrowers.
“NewDay’s fintech business model relies on analytics powered by an information-based decisioning capability that allows us to say ‘yes’ to veterans when other lenders say ‘no,’” Posner said. “We understand how to effectively evaluate the credit history and background of active-duty servicemen and women and veteran families. We also understand the homeownership needs of our military, since servicing veteran families is all we do.”
