NewDay USA (NMLS #1043) is an online mortgage lender that was created on November 3rd, 2011 by the limited liability corporation NewDay Financial.
NewDay USA Review
NewDay USA is an online mortgage lending platform that prioritizes their lending operation more specifically to US veterans or active military members.
Consumers looking to acquire mortgage loans must specify to what ends their loan may be used for which can vary from cash out, consolidated debt, home update, lower interest rate, purchase a home or other.
Those looking to obtain a mortgage loan through newdayusa.com are able to start the application process online where they will then be assigned a dedicated loan officer.
Rear Admiral Thomas C. Lynch is disclosed as NewDay USA’s active Executive Chairman.
While the majority of online lenders will only enable an applicant to borrow up to 80% to 90% of their home value, those who have served in the military or are actively serving are able to take advantage of NewDay USA’s 100 VA Loan, which enables applicants to receive a loan up to 100% of the home’s value.
As disclosed in a WHOIS domain report, newdayusa.com was incepted on November 3rd, 2011 through the GoDaddy registry by NewDay Financial LLC.
According to the Better Business Bureau, NewDay Financial LLC has been a corporation since December 1st, 1997 and has a disclosed physical location of 8171 Maple Lawn Blvd, #300, Fulton, MD 20759.
Another correlated overseeing entity associated with newdayusa.com would be NewDay USA, which according to the BBB, was started on November 27th, 2002 and reflected a physical address of 8160 Maple Lawn Blvd, Fulton, MD 20759-2623.
Associated Contact Methods of NewDayUSA
- Telephone: (703) 480-3203
- Telephone: (877) 410-5285
- Telephone: (877) 423-1400
- Telephone: (844) 320-1550
- Telephone: (800) 405-4187
Community Insight Update (December 5th, 2018)
“The NewDay USA 100 loan”??? People, The VA loan program offers 100% loans to veterans regardless of the mortgage company or financial institution you use. This is only one of the many lies NewDay spews out in their ads. NewDay has no special relationship with the VA and are not responsible for obtaining any benefits for veterans. They can’t – and wouldn’t ever – offer a veteran anything more than any other mortgage company or financial institution offering mortgage loans to veterans. In fact numerous reviews indicate NewDay offers worse rates, higher fees, and takes longer to process a loan for veterans than most other companies. NewDay was fined $2 million in 2015 for being dishonest with veterans and for paying kickbacks. What more do you need to know?”
“We canceled our application with freedom mortgage because we didnt like the way we were being treated and we decided to go with new day. We signed for a 30 year mortgage and after a year and seven months of making our payments on time and never missing a payment , they drop us like a bad habit and send us back to freedom with no reasonable explanation.”
“They quoted me 5.25% for a VA loan. That is a full 1% higher than I was quoted from another lender for the same VA loan. That’s actually very disturbing given that they are here to “help” veterans.”
“I am selling a home left to me after my mother’s passing. The people who have been renting the home wish to buy and have been working with an agent named Aaron from New Day VA loans out of Maryland. I am stunned at what this agent has put these buyers through so far. He promised a free appraisal (as New Day advertises) and then charged them $650 stating that the free appraisal policy no longer exists. He promised closing costs would be around $1200 and now have soared to nearly $7000! This is on the sale of a $110,000 house! Insane! I have advised them to cancel any further negotiations with this group and file a formal complaint and seek legal help”
NewDay USA Scam
Despite NewDay USA appearing to operate with respectable poise, recent consumer feedback regarding their operation has brought attention to a different side of this mortgage lending platform.
ConsumerAffairs, for example, reflects a relatively poor rating from consumers who have had a negative experience with NewDay USA. Among the most commonly reported complaints would be theft of funds, outrageously high loan terms along with the strong assertion that their platform is a scam.
According to their first BBB profile, newdayusa.com reflects an overall 60% negative customer rating and has accrued 42 complaints
Although NewDay USA may appear legitimate with their legal documentation and across some review sites, the negative consumer complaints filed against this online mortgage lender depict a much different story therefore we are not recommending NewDay USA.
For consumers looking for more legitimate and verified loan matching services, we recommend reading our 24/7 Dollar Loans review. For prospective applicants who possess below average credit types, we recommend learning about BadCreditLoans, which specializes as a credible loan matching network tailored towards consumers with poor credit history.
Stop writing me! I do not wish to deal with your company.
Like Gomer Pyle would say, Golly Sarg!! I was about to……..