NewDay's Servicing Portfolio Hits the $500 Million Mark in Government Loans

NewDay Financial, a national VA and reverse mortgage lender, has announced that the company has built its servicing portfolio to more than $500 million in government loans. NewDay Financial has been servicing government loans for nearly two years, and to date, has serviced more than 3,000 loans. Approximately 85 percent of the company’s portfolio consists of U.S. Department of Veterans Affairs (VA) loans, the remainder are Federal Housing Administration (FHA) loans. NewDay’s seriously delinquent loan rate is well below the national average, which the company attributes to its use of powerful data analytics and information technology. “When NewDay became Ginnie Mae-approved, we were already equipped with the talent and knowledge to securitize and service loans, positioning us for this quick and ongoing progression,” said Bruce Giacoma, chairman of NewDay Financial. “By using strong analytics, we can originate and service the best quality loans and continually grow our portfolio on a monthly basis. This milestone represents NewDay’s continued dedication to working with veterans, ensuring they have a solid opportunity to achieve and maintain homeownership.” NewDay Financial is a nationwide VA and reverse mortgage lender that provides a range of loan programs to meet consumers’ various financial objectives.