Skip to main content

NewDay On Track To More Than Double Revenue In 2020, Serving Over 20K Veterans

Navi Persaud
Oct 20, 2020
Photo of military veterans.

NewDay USA, a leading veteran mortgage lender revealed that it will surpass its 2020 estimates, more than doubling its revenue to over $300 million this year. This marks a significant increase from 2019's revenue of $152 million. Additionally, the company is on pace to serve more than 20,000 veteran families in 2020 and estimates it will serve more than 40,000 in 2021.

"This has been a challenging time for most Americans, and homeownership has never been more important to the financial well-being of veterans and service members," said Rob Posner, founder and CEO of NewDay USA. "No matter what the challenge, NewDay has always stuck to its core principles: hiring teammates with integrity; investing in good times and bad; and fostering a culture of service."

NewDay is also projected to earn $500 million in revenue in 2021, generating more than $9 billion in loan volume, according to a press release. The company is also projecting to increase its 700 team members to 1,200 in 2021.

"As interest rates drop to the lowest in history, NewDay USA is quickly becoming the trusted mortgage company veterans turn to purchase a home," Posner said. “We believe both refinancing and purchase volume will continue to be strong in 2021. There are still too many veterans who have yet to realize VA benefits, and NewDay USA’s mission is to educate veteran families to take advantage of the valuable VA benefit they so deserve."

According to the release, 5% of NewDay USA's net income is donated to these causes through the NewDay USA Foundation. The Foundation was created to make a difference for the families of our military veterans. 

Published
Oct 20, 2020
Reports: Evergrande Group Makes $83.5M Interest Payment

Faltering Chinese development firm fends off default with payment to international bondholders.

Industry News
Oct 22, 2021
FAR Establishes Borrower Engagement Division

Finance of America Reverse LLC announced its formally established Borrower Engagement Division.

Industry News
Oct 22, 2021
Automating Appraisals No Panacea For Removing Bias

With racism 'grandfathered in' to housing prices in minority neighborhoods, a solution to 'unconscious bias' is difficult to find

Industry News
Oct 21, 2021
Reports: Evergrande Group Arranges Bond Extension

Reuters, REDD say company's billionaire chairman has agreed to provide additional collateral to ensure a construction project tied to a $260M bond is completed.

Industry News
Oct 21, 2021
New American Funding Hires Regional Manager

Mark Tribuna will lead effort to expand company's partnership with affordable nonprofit builders in mid-Pacific region

Industry News
Oct 21, 2021
Rocket Pro Announces Initiatives To Boost Brokers

Company brings Rocket Tech, the Rocket Network and Rocket Marketing to mortgage brokers across the country

Industry News
Oct 19, 2021