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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.