NewOak Opens Credit Counseling Firm, Plans to Hire 100

Responding to higher demand for independent credit and risk advisory firms New York-based financial services provider NewOak Capital has opened NewOak Credit Services LLC in Danbury, Conn.

Chad Burhance, a partner with the firm, will head NewOak Credit Services, which is expected to create up to 100 new jobs within three years.

NewOak has leased 10,000 square feet of space to accommodate current and future staff.

The mortgage market and the mortgage-backed securitization industry are undergoing “an enormous transformation,” says NewOak founding partner and CEO Ron D’Vari, due to “the sea change of regulations and transparency requirements by investors.”

NewOak sees current market changes as an opportunity to develop effective solutions that combine expertise with advanced technology and massive amounts of data, he says.

“Proper execution of these new services requires a large number of highly trained staff,” including new graduates.

Burhance describes the new mortgage credit services business in Danbury as a full-service operation that will touch “all aspects of the loan lifecycle from origination, surveillance, servicing oversight and securitization.”

The NewOak Credit Services platform will also serve as a training center for new professionals and recruiting new graduates.