NewDay Financial's Consumer Protection Approach Leads to Selection as Exclusive Mortgage Lender for Veterans of Foreign Wars

FULTON, Md., Aug. 19 /PRNewswire/ -- While many U.S. financial firms worry about effects of new pro-consumer regulations flowing from the financial reform bill signed into law recently by President Obama, one company says its own focus on consumer protection already is attracting new customers.

NewDay Financial announced it has been selected by the Veterans of Foreign Wars (VFW) to be the exclusive provider of mortgage lending for VFW members.  According to the veteran's organization, the most important reason it chose the Maryland-based lender was NewDay's strong commitment to protecting consumers and providing the public with financial education tools.

"NewDay Financial demonstrated to us that they help their customers make the right choices," said Lawrence M. Maher, Quartermaster General, VFW. "The company's loan specialists are committed to working in an honest, open and respectful way with servicemen and women, veterans and their families to achieve their financial goals."

NewDay provides financial advice and online tools designed to help borrowers understand loan products and the mortgage process. The company's partnership with the VFW includes FHA and VA first mortgages and reverse mortgages.

"The home loan experience can be confusing and frustrating," said Bruce Giacoma, chairman of NewDay.  "As the nation emerges from the recession and financial crisis, the mortgage process can be even more daunting because more consumers are wary of the entire lending environment."

The NewDay chairman pointed out that the new partnership comes when Congress has passed a sweeping overhaul of financial regulations designed to forestall future financial meltdowns.  The law mandates a new Consumer Financial Protection Bureau.

Giacoma said that families across the country have lost their homes, jobs, and retirement savings since the economic collapse caused by dangerous practices in the financial sector.  "As we move forward, it will be the firms which embrace consumer protection measures that will be successful in the marketplace," he said. "That will be good for the mortgage industry, the financial system and most importantly for American families."

"Now more than ever, lenders have a responsibility to rebuild trust among all Americans," said Lawrence Maher. "We're proud to have selected NewDay Financial as our lending partner, who has taken a lead in putting consumer protection first."

"NewDay Financial is enormously honored to be selected by the VFW to be its mortgage lending provider," Giacoma said. "Our company is focused on quality mortgage products and outstanding customer service to the men and women of the U.S. Armed Forces and our country's veterans."

About VFW

The Veterans of Foreign Wars of the United States, with its Auxiliaries, includes 2.1 million members in approximately 7,600 Posts worldwide. Its mission is to "honor the dead by helping the living" through veterans' service, community service, national security and a strong national defense.

About NewDay Financial

NewDay Financial is a nationwide VA, FHA and reverse mortgage lender offering a wide range of mortgage-based products to homeowners with a variety of needs and goals.

SOURCE NewDay Financial