NewDay Financial LLC, Fulton, Md., has changed its identity to NewDay USA LLC. The USA part of the name looks to call attention to the company from its primary target markets as a Veterans Administration lender and Federal Housing Administration forward and reverse mortgage originator, company management said.
"We realized that the time had come to identify ourselves to our potential customers with a name that reflects both who we are and what we aspire to be,” said Robert Posner, chief executive of NewDay USA. “Our strategic focus on serving the mortgage lending needs of veterans, military families and seniors has resulted in significant levels of growth."
Furthermore, NewDay USA is starting an FHA Direct Division, which will focus exclusively on FHA and conventional purchase and refinance mortgages. The division plans to open two call centers, one in Maryland and another in Orange County, Calif.
It is a Ginnie Mae seller/servicer and currently has a servicing rights portfolio of $500 million.
Back in November, NewDay promoted Julie McMillin Lee to president of its reverse mortgage division as part of its growing emphasis on that product.
