Skip to main content

NewDay Announces Enhancements to Its Free LO Training Programs

Nov 08, 2011

NewDay Financial, a national VA and reverse mortgage lender, has announced that it has enhanced its comprehensive training program for loan officers to better prepare them for the latest industry and regulatory changes. NewDay’s training program is a six-week regulatory training course that is completely free for loan officers. NewDay pays for required background checks, fingerprinting as well as the cost of all fees and applications. “NewDay is committed to updating our training program on a regular basis whether it be legislative changes or just evolution of the industry,” said Chris Andrews, vice president of training for NewDay Financial. “We believe strongly in investing in our employees, which is why we cover the costs associated with all training and licensing. New mortgage industry professionals who come to work at NewDay say that the unparalleled educational and training program offered by NewDay University gives them confidence in their abilities and deep industry knowledge.” NewDay has a SAFE Act examination pass rate of 93 percent, compared the national average of 61 percent. For state examinations, the pass rate of NewDay trained loan officers is 96 percent, while the national average is about 74 percent, according to the company’s research. NewDay licenses loan officers in 15 to 25 states. “In the industry’s current and ever-changing environment, compliance is paramount,” said Paul Alger, president of NewDay Financial. “NewDay University specifically focuses on ensuring loan officers truly comprehend the regulations and are able to provide the best quality service to our clients while consistently adhering to compliance requirements.” NewDay recently implemented a quality control (QC) program that monitors inbound calls to ensure each originator complies with regulations and maintains a strong customer focus. NewDay management receives daily QC reports that are designed to improve the company’s coaching methods. The company has also added training sessions to give loan officers a stronger understanding of the Dodd-Frank Wall Street Reform and Consumer Protection Act as well as its affect on origination processes.
About the author
Nov 08, 2011
The Sale, The Risk & The Trend

The chronicles of Norcom Mortgage

Jul 08, 2024
A Reading From The Book Of Kyle

A Texas coach and former pastor felt a calling, spawning a best-selling how-to for loan officers

Jul 08, 2024
Mortgage Applications Increase Slightly In Latest Survey

Applications increased 0.8% from one week earlier.

Jun 26, 2024
FHFA Approves Freddie Mac's Second Mortgage Pilot

The GSE's limited program will permit cost-effective cash-out refinances

Jun 24, 2024
Former Rocket Mortgage SVP Turned UWM Broker Partner

Zoom Home Lending, headed by former Rocket Mortgage executives, partner with their old wholesale rival, UWM

Jun 20, 2024
Potential For Declining Rates This Summer, Following CPI Report

Norada Real Estate Investments said "rates likely to decline" after the latest CPI report.

Jun 17, 2024