Rob Posner, founder and CEO of NewDay USA,the nation's 8th largest VA mortgage lender, announced the company has renewed its warehouse facility with BankUnited for $100 million. The company now has a total of $400 million in warehouse commitments, that also includes Texas Capital Bank and People's United Bank.
These warehouse facilities will enable NewDay USA to achieve an expected 150 percent increase in the number of veteran families and military service members that obtain a VA Home Loan to purchase a home.
NewDay USA's goal is to become the #1 VA mortgage lenders in the U.S. for veterans and service members. Posner said the company is well on its way toward its goal, with the company projected to serve 11,000 veteran families in 2019.
"Through a fintech business model, NewDay relies on proprietary information-based decisioning that focuses on making sure that every veteran may have the opportunity to take advantage of their VA home loan benefit." Posner said. "NewDay is able to qualify more veterans for VA loans and achieve the American Dream. Serving servicemen and women and veterans is all we do!"
Through its own training facility called NewDay University, NewDay USA produces a growing team of professionals trained specifically to help military service members and veterans. Posner attributes its Accelerated Underwriting Program and a greater understanding of the background of service members and veterans to the success of Operation Home.
Rob Posner