A top VA lender has announced that it will be adding more than 100 new mortgage employees.
NewDay USA has announced that it is hiring more than 100 new employees in the Baltimore area to meet rising demand. The new hires will be trained at NewDayUSA University, the company’s proprietary training facility.
NewDay reported that its VA loan originations during the three months ending June 30 totaled almost 2,500 loans with an aggregate principal balance of $576 million, a 32% spike from the prior quarter. The company said that it determined it would need to expand its staff by at least 100 to support the growth in volume. NewDay expects to make the hires by the end of the month.
“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 Thomas Lynch, a retired rear admiral and chairman of NewDay USA. “I am proud that we can help the families of veterans and active-duty service members save money through their VA loan benefits.”
The company said that it recruits many of its employees from local colleges after graduation. Once hired, new recruits receive mortgage training at NewDay USA University, where they are trained specifically to help veterans and active-duty service members through the mortgage process.
“Our staff is one of the best-educated workforces thans to the major investments we have made in NewDay University,” said Rob Posner, founder and CEO of NewDay USA. “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.”