has announced the hiring of more than 100 new employees in the Baltimore area. The new recruits will be trained at NewDay USA University, the company's proprietary training facility.
NewDay reported its VA loan originations during the three months ending June 30 totaled nearly 2,500 loans, with an aggregate principal balance of $576 million, a 32 percent jump over the prior quarter. The company has determined that a staff expansion of at least 100 new team members was necessary to support its growing volume.
"Rates are retreating to near historic lows, which is creating an incredible opportunity for military families to refinance and reduce their mortgage payments by an average of $2,000 a year," said Retired Rear Admiral Thomas Lynch, chairman of NewDay USA. "I am proud that we can help the families of veterans and active-duty servicemembers save money through their VA loan benefits."
Many of NewDay's employees are recruited from local colleges after graduation. Once on board, new recruits receive an extensive mortgage education at NewDay USA University, the company's Ivy League-styled, in-house learning institution, where they are trained specifically to help military servicemembers and veterans with their home financing needs.
"Our staff is one of the best-educated workforces thanks to the major investments we have made in NewDay University," NewDay USA Founder and Chief Executive Officer Rob Posner said. "It's these high achievers who will be running the mortgage industry in the next decade, many of whom will remain in the area and continue contributing to Baltimore's economy."