Home / News / Government / Ginnie Mae, NewDay USA Reach Agreement on VA Loans
Print This Post Print This Post

Ginnie Mae, NewDay USA Reach Agreement on VA Loans

Ginnie Mae Veteran lending policy

NewDay USA, one of the nation's largest VA mortgage lenders serving veterans and servicemembers, has been approved as a Ginnie Mae Servicer Seller for VA loan production. NewDay is currently approved to issue Ginnie Mae I and II securities for FHA multi-issuer securities.

Based on current origination volume, NewDay USA is projected to be a top-five VA lender in the U.S. in 2019. The company provides veterans and servicemembers and their families an opportunity to take advantage of their earned VA benefits to achieve the American dream of homeownership, as well as save money through refinancing. 

"The Ginnie Mae program provides critical mortgage financing for our nation's veterans and active duty military, and the NewDay USA team values the ability to fully participate in its single-family programs," NewDay Founder and CEO Rob Posner said. "Our information-based strategy that focuses on analytics and credit risk is unique in the mortgage industry, and ensures we produce exemplary portfolio loan performance. Additionally, upon Ginnie Mae review, our prepayment activity has shown a significant reduction in prepayment speeds, and meets Ginnie Mae guidelines."

Military borrowers seeking to purchase a home through NewDay USA's Operation Home, as well as those who are seeking to refinance at today's near-record low interest rates, will benefit from NewDay's participation in the Ginnie Mae programs.

"With today's announcement, military families, who have sacrificed so much for our country, will have the best possible menu of home financing options at NewDay," NewDay Chairman Retired Rear Admiral Thomas Lynch said. "I am proud of our team and our culture of serving those who have so bravely served our country."

About Author: Mike Albanese

Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville.
x

Check Also

Negative Equity Hits Record Levels

The amount of homes in negative equity fell to the lowest level in nine years, according to a new report. Here's why.

GET YOUR DAILY DOSE OF DS NEWS

Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.