NewDay USA Reviews

As a former USN of 13 years I got sucked into the advertisement about how they take care of their veterans. This has been a total disaster! Lies and misstatements from Alex **, our fine "agent." Calls to try to contact VP of Compliance as well as other "executives" is next to impossible. We tried to rectify these issues but only met BS and resistance. One of the worse experiences I have ever had. Please, take your business anywhere else. File complaints with BBB (they are not even recognized by), Consumer Affairs, Veteran Administration, Attorney General of your state, state and federal representatives. This company defrauds veterans and smiles all the way to the bank.

I applied for a VA loan and was given a 4.7 interest rate and my FICO score is over 820. Ridiculous. I went with Wyndham Mortgage for 3.7 VA Loan. Looks good on TV but not so good when one applies for a VA loan with NewDay USA.

My wife and I are self-employed. We want to install a $60,000 pool and it can be hard to borrow from banks. I was turned into NewDay USA as a lender for veterans. I applied for $60k only to get an offer back that refi's my home from 3.75 to 4.75 PLUS a $21,000 closing cost (1% higher on my $250k mortgage). It would cost me almost $100,000 just to borrow the $60k, not including the interest or payments on the loan. It appears that they were trying to take ALL of the equity out of my house.

When my grandfather called them today, he got beat around the bush. We thought nothing of it because they sounded honest. Little did I know that "Being guaranteed" wasn't true. My grandfather had high hopes going in, but left angry. They asked a slaughter of personal questions that didn't get us anywhere. Plus things were "set up" so my grandfather wasn't eligible. It just makes me mad. Somebody should shut them down. Now! This is not fair or right to any veteran. I bet they just want to empty your wallet and your 401k leaving you with dashed hopes and dreams. I wish I could rate them a 0!

I recently closed a refi with New Day USA. Not only was I charged $7900 in fees, they gave me a 4.75 interest rate which when I had it looked over after the fact several people told me it was criminal and highway robbery and there's no way they should charge that amount of fee and if they did, the interest rate should've been much much lower. I feel compromised and I'm sad and I even called my mortgage contact and he said everything was above board and legal. That's all he had to say.

I called NewDay to get a home repair loan. I was approved for $12,500 but the catch was it would raise my mortgage by 280.00 a month for 30 years. That's 3,360 a year for 30 years of my mortgage that equals over one hundred thousand dollars for a 12 thousand dollar loan. Who is in charge of these vampires, don't they have any concise, moral, or feelings for American Veterans. The next time we go to combat for them we should charge them hundreds of thousands of dollars or just tell them to go kill the enemy themselves.

I applied on May 3, 2017 and was closed and received my cash-out electronic deposit by May 26, 2017... WOW!!! The customer service I received was above and beyond my expectations (Nathan ** was the best!). Just a little background of my credit: Bankruptcy (Discharged 2015), two tax liens (paid), slow credit. One note: You must have ALL your paperwork in order!!!

I called their phone number just to get some information on their NewDay 100 Home Loan advertised on TV. They called back... and said the call "might take a half an hour". I talked to a Bryce who asked me lots of questions about my home. I wanted to refinance because I had both a first loan and an expensive 2nd Line of credit loan, and hoped to reduce my interest rate. After about 35 minutes I told them my home was held in a family trust, and the loan agent said that since this was a VA related loan, they couldn't make the loan, and this was resulting in a DENIAL of my application. I hadn't even been told that I was making a formal loan application. So I said then I want to withdraw the application.

My wife and I are both Navy vets. My wife is fully disabled. We have a home that has a ton of equity in it and we decided we wanted to get a cash-out loan to make some home improvements as well as afford my wife a service dog to help with her medical conditions. We decided to try NewDay USA after her father made a suggestion. What a total mistake.

You can have a lot of money in the bank... You can own two homes free and clear... You can have the best credit... But if you don't make over $1725 a month you won't qualify. The other lenders have no such rigid standards to get a VA home loan as NewDay USA.

Today I spoke a loan representative name Cody. After taking all my credit information. He tells me I have to show that I have landlord experience on a W2 in order to get the loan amount requested. Where is that on the loan application? These people are not for service member unless it leads to a big commission for the loan officer and the lender.

Facts, they are not a mortgage lender, they are document processor, the charges for processing our loans are insane. The rates are worse. My score is 786. They hounded me for months about my income and bills. I had no bills, WHY? I cancelled the process. Navy federal credit union gave me lower rate, better online process, saved me thousands. Take note, my VA appraisal was 100% based on neighborhood comps. Bad idea, I complained to VA HQ. Lady said, "I don't care if you have totally remodelled your home, we go by neighborhood comps only." Local real estate folks and closer said appraisal was at least 50k below actual market value. So beware of what expect and what you get.

House loan. They said they don't go by credit score, well they LIED because they looked up score and said they couldn't help. But at first they said they could and didn't go by your score. Then THOMAS said VA couldn't help because we don't owe any money on the house and FHA wouldn't help because a couple late payments. So this company lied big time. So don't waste your time calling them unless you are rich... Then you don't need them.

I did a primary application for NewDay USA, as I wanted to do a cash out refinance VA loan since I have a substantial amount of equity in my home. I read reviews online after I applied and decided that this company was not for me. I sent an email and told them "never mind" and to cancel. I received a call from Dan **, a loan specialist asking me why I wanted to cancel. To make a long story shorter, he convinced me to give them a try. I did, and it is just a little over 3 weeks since I applied and I close tomorrow with a loan that I am happy with.

As a Navy vet I saw the commercial and had a shadow of hope that there was someone out there who could help us get back on track and get ahead of our debt. I didn't even make it past the registration form as it was telling me I had an error to fix. The error was the spelling of my wife's name, she spells her name Hilary. I was not allowed to move past this form as it told me this was not legitimate spelling of a first name. Who has the right to tell another person how to spell their name?? Or for that matter refuse moving forward on a form because THEY don't recognize the spelling?? Would not have anything to do with this company or any other that acts in this manner.

We wanted to get a better rate and clean up some debt. I have had five previous mortgages at different addresses in the past. I am a small business owner who has had difficulties in the past with mortgage companies who would ask me to submit copy after copy of various documents. Some would ask for the same document two or three times.

My father used NewDay USA and referred me to them. I can't speak highly enough as to how smooth, transparent and positive my experience was. The whole process took three weeks. Veteran friends used other lending institutes and had horrible experiences and even some of the good ones took 4 months. Kevin was patient, informative, transparent and reviewed my numbers every time I asked. I got a solid deal and accomplished all the goals with this loan I needed to. I highly recommend NewDay USA 100 if this is the type of loan you are looking for.

I am a Navy Retired Veteran looking to finance my home. I have a contract for deed in Minnesota and saw the commercial on NewDay USA and thought it sounds good. Boy was I a fool. After spending lots of cash to fax papers to Teddy, I found out I was declined the loan because I could not prove my address. WTF. I lived here for 6 years. My property tax bill has my name, address, utilities in my name. The reason is bull. Never had I ever been so disappointed in the bull that this place hands out 2 customers out of many like this place. I hope that ** Admiral is reading this complaint.

Idiots. Turned down over the phone. I am a decorated Vietnam Vet with 70% disability. Credit score only 680. Never late on existing mortgage. Never asked me any pertinent questions. Got the initial hype that "they are here for all of us who served". Just awful people.

This needs to have a "zero stars" option. So the NewDay mortgage representative said "your application looks excellent, credit score is great, no income issues ..." (provided 2 years of tax returns, I'm self employed). This went on for a few months, more and more information etc. Then finally we get the appraisal done, exactly what I estimated ($185,000) to the penny (suspicious). But we're in the home stretch then, or so I thought, but 'voila', then he calls and says "I just looked at your numbers ..." (apparently, for the FIRST TIME) ... "and oops, you're not affluent enough (didn't have enough income)."

I'm a U.S Navy Veteran. After watching the TV commercials ad nauseam with the 32-year veteran, I decided to call and get a quote. Spoke with Peter (last name withheld) on a Wednesday. He said he could give me a quote after about 10 minutes of questions. 50 minutes later and I'm at Defcon 4 because of all the redundant irrelevant questions and the huge time overrun. I told him that I'm hanging up since he still couldn't give me a rate, all I was asking for was a 15 or 30 year fixed rate. Every other lender I spoke to gave me that information in 10 minutes or less. So, Peter tells me he will call the next day and he'll have my options to discuss. No call the next day (Thursday) from Peter. I call his office 3 times Friday, each time leaving a message to please call me. My 3rd message may have contained a few expletives as I couldn't believe how lame this company was at returning calls & treating their perspective clients respectfully.

I don't understand why NewDay USA wants to keep wasting paper by sending me mail every month. It's ridiculous! I followed the directions and call the number, put my address in to request my address be taken off the mailing list for all mail offers and still get junk mail. What does it take? NewDay is wasting their time, my time, paper and their money. IF NEWDAY IS READING THIS STOP THE MAIL ALREADY, YOU'RE NOT GETTING MY BUSINESS!!!

Wow, there needs to be a class action lawsuit against these people. I went seven months of BS before giving up on the process. All was good in qualifying, the appraisal, income, credit report and such. Was supposed to be closing several times with all the inspections passing and then nothing. Would not hear back from them. Then when I did, the water test timed out, then the WDI inspection timed out. Then was told I could not get any more extensions and the whole process timed out. Did not even know I was even in extension mode. Dan told me I had to start all over again but said it is a good thing because I qualified for a better rate and closing cost were less. So I proceeded, everything is good and should close in a week or two.

Waste of time. Spent close to an hour chatting with Acct. Exec. Although I have three other Lenders waiting for me to call and close with them, New Day decided I wasn't a candidate for refi. I believe New Day is highly scrutinizing Veterans and only financing those well positioned. If you got a 600 something score (mine was 680) they do not seem interested and will WASTE YOUR TIME FILTERING FOR HIGH CREDIT SCORES!

The commercials by this company look great, but the retired admiral representing NewDay should be ashamed of himself. After viewing this commercial several times I decided to call. After reviewing my situation they said "sorry, we can't help." I had a credit score over 800, and am a vet. My current mortgagor, Green Tree said yes, they could refinance me, Quicken Loans said yes, MiLEND said yes, and Loan Depot said yes. We ended up going with MiLEND, and were very satisfied with the results. I WOULD NEVER CONTACT NEWDAY loans, and I resent their implied support of veterans. I think it is a scam, and gave them one star only because I couldn't give give them zero.

I am a 77 yr old disabled vet. I receive $1500 per month income. I haver no active loans. My "scores" are at 644. I am qualified for the VA loan. I earned serving approx 4 yrs (1958-1960). NewDay seemed to be interested in making a loan on a $56,000. Cond in Banner Elk NC 28204. My only liabilities I am aware of at $550 monthly lease option rent for a full year. Prior to that I paid $550 per month on a rental that burned down because of a Lexmark printer explosion according to the fire marshal. In all cases I paid my monthly rent of $550 per month on the 5th of each month by automatic bank draft. I have paid my monthly living expenses each and every month.

I'm not quite sure why there are too many negative comments about this company. My husband and I refinanced and took cash out to pay off some debts in mid-July 2016. The process took about 45 days. We have substantial amount of debts but our income combined is pretty good. Credit score is about 680+. We closed last Friday and received all the checks yesterday to pay off our creditors. We are very happy about that. Yes there's tons of fees that they charge but they were able to waived about 10k so they can approved the loan. We didn't have any issue with the fees because we are paying off at least 70% of our debts. Ben ** had helped and guided us through the process. I would say the process is a little tedious but I can understand why. We had refinance before but we had never taken cash out of our equity. We didn't pay anything for appraisal nor termite inspection.

Applied for VA refinance loan. I am retired, have plenty in the bank to pay off my home or mortgage if I want to but for tax and liquidity reasons prefer to just refinance. Amy ** pulled my Transunion credit score which was over 800. She needed one more score but I had to remove the freeze on one of them (Experian or Equifax). Executed temporary unfreeze for 24 hours from 9-10 Aug, called her and let her know. On 11 Aug I get a voicemail from her stating that because she still can't pull a 2nd report, she will have to put my application on hold.

When I called and told them my credit score of 587 they said they could not assist me because it needed to be 620 or more and cut the conversation short. Hmm and your welcome. I served for my country.

I have been communicating with Andrew and he is giving me the impression that this is not a company that I want to deal with. He does not call or answer my email. His initial email asks over 25 questions including what I want to do with the money and other unwarranted questions. My wife and I would just like to learn about the program as advertised on TV by Col. Lynch all the time. One would think that a company that wants to deal with veterans and that spends millions for advertising would be a little more professional. What a waste.

My husband is a veteran and watching the television commercial it sounded like something we would be interested in. After 3 months into the application, the person supposedly helping with the loan continued to ask for ridiculous evidence of our qualifications for the refinance loan. With the last phone call from them, I recall that they were recanting on their offer that they originally made and were changing some of the important points, which they had used to convince us that it was a good deal. These people should not be allowed to continued to prey on VA families, as they disrespect veterans. This was very sad for us.

I am a Veteran of 10 years active duty service. Like millions of other middle-aged, middle-class men, I lost my job and was unemployed for 15 months before finally landing another job. We missed mortgage payments, but prior to missing any we notified our mortgage company (OCWEN) of our issues. They promised to "work with us" and that our credit would not be affected adversely as long as we communicated with them. This complaint is not about OCWEN - that will be a subsequent complaint. When things became desperate and in order to avoid being thrown out on the street including our 10-year-old daughter - we pulled all our pension money out and brought our mortgage current. We then sought out help from NewDay to refinance and hopefully reduce our interest rate and combine 1st and 2nd mortgages in order to hopefully reduce the monthly total as well, as the new job pays 1/3 what the old job paid.

We contacted them in regards to getting a home loan. Following a short sale, our credit score are good. We have only had 2 late payments in our credit history which were to be able to file for short sale. They say they will do all they can to help but when I called them they stated no matter what credit score was and no matter we only had 2 late payments in over 20 years of credit history they would make us wait 5 years, yes 5 years! Normal banks only require 2 years and New Day had a much higher percentage rate. They are a scam. They don't want to help veterans. They only want perfect credit people to issue loans to. Very disappointed in a company that states they "are here to give a hand up to veterans". It really should be "we are here to try and take advantage of veterans".

NewDay USA is a huge scam and they are preying on Military Veterans and Disabled Military Veteran! Save yourselves your time and money and stay away. They don't care about Veterans, they just care about making money off Veterans. It's a major disrespect to us Veterans. STAY AWAY!!

I have read some of the reviews about NewDay USA since my refinancing and can honestly say I wish I had read them prior because I would have chosen a different financial institute to do business with. As a disabled veteran, I fell for them saying that they waived many of the fees for being disabled. My process began in Nov 2015 and I just finally closed on the deal Apr 2, 2016. We went back and forth numerous times over a five or six week period about a private road maintenance agreement and when I was told to get it signed because it was good the next day I received an email stating more changes had to be made. This was the kind of hoops I had to jump through and headaches I had to put up with. They drag their feet over this to where they wanted me to pay for another termite inspection which I refused to do so.

The ad on television is a farce. Tom Lynch is a sham! This company has no idea what a veteran goes through. In these tough economic times Vets have had financial issues like everyone else. I applied for a VA loan and this company wants you to be perfect. No credit blemishes even though I have a credit score of over 700. They would not give me a mortgage because I lost a home almost five years ago. Went to another company and was pre-approved in two days! New Day has also been under investigation. Fellow Veterans, stay as far away as you can!!!

I recently applied for a VA backed loan from New Day USA. I had seen the TV commercials featuring ADM Tom Lynch. His strong message to Veterans got me to call the 800 number. I was so glad I made the call. When the representative answered, he gave me his telephone number and said he would be with me through the entire loan application process. That impressed me greatly. We were in frequent contact by both email and telephone throughout the process. He worked extremely hard in gathering all the information and documents he needed from me to complete the process. As stated by ADM Lynch, I was able to refinance my home loan with a lower payment, pay off credit card debt, and have money in the bank. I was finally able to have my house painted with the money I received. This entire process was the most pleasant I have ever had. I highly recommend that any Veteran looking to refinance a home loan contact New Day USA.

It is amazing that this corporation is allow to remain in business. It is one of most high pressure sales organizations that I have ever run across and all they want to do is sell, sell and sell more. They want to get you the highest mortgage that you can legally afford so that the sales commissions of the mortgage specialists can make huge amounts of money. They really don't care about us as Veterans, they just want to make money off us. Shame on you Ross **, our mortgage officer and I am glad that I joined USAA who are the most professional group of people I have ever met. Down with NewDay, up with USAA!!

Almost every day I get an UNWANTED, UNSOLICITED, mailer from New Day USA, despite these facts: I'm not a veteran, nor am I closely related to any. Am not interested in borrowing, refinancing or anything else from this company. I am on the National do not mail list. I have called and requested to be removed from their mailing list many times and every time I was promised I would be removed. So they are liars, too!

Should have read comments from your readers... They are very accurate on fraudulent type activities carried on by NewDay. All negative comments they nitpicked about were answered in most positive responses. They stalled me for more than 4 months and still have not accepted or declined my application. Have gone through at least 3 POC's since application began. Am so ticked off... I penned up letters to the mighty Admiral and complained, but no response. Any former military officer should be very aware of the negative conduct his subordinates/associates.

Had I known I was going to get a run around on where to send my payment, I would have gone with another loan company. You should have ONE place that payments go to!!!

I too believed the tv ads, and found nonsense and craziness beyond belief! Questions that were not only non-stop, but also unnecessary. (Some were downright intrusive.) I received more paperwork than on induction in the Navy & Army combined! The final straw came with a bill for $4455.02! I guess this was my "benefit" as a veteran! I wanted to vent with these folks when I trashed their paperwork, but they very nicely fail to provide an email address. They sure caused me lots of grief, and held up the process of getting my home. Thanks so much NewDay USA!

We applied for a first time VA Loan after seeing the convincing TV commercials. They quoted us a rate of over 1% higher and tens of thousands of dollars in fees higher than other VA Lenders. We have excellent credit. We took our business elsewhere and it makes me sick to my stomach every time I see their ads on TV fearing that some other veteran will be suckered in. In my opinion, They should start a New Day by having their license revoked.

This experience has been awful from the beginning. We went through three loan officers because the company kept losing their employees. Plus paperwork had to be signed numerous times and mailed at our expense. The "FREE " appraisal that is advertised is not free but added into loan charges. We were told after almost three months process that we should re-apply in May 2016 due to one late payment on a current second mortgage with a perfect first mortgage payment history. What a waste of money and time on our part. Veterans beware.

First of all the high review I read sounds fake. I am an Army Vet. NewDay scammed me all the way till credit score time. After the credit report that's when Kyiera tells me they don't accept anyone that's been late within the last FIVE years on home payment! Could have told me that information up front before pulling my credit and getting all my info that they are just gonna sell. They are not an up front company or a vet company. They are just a shady company wanting people with perfect credit regardless if you have very good credit. SO YOU BETTER HAVE PERFECT CREDIT. Called another in State company and got approved right off the bat for $400000 g's. Kiss my money bags, goodbye NewDay!!!

It appears New Day USA is only for veterans who own a home, but if you own a Mobile Home you don't qualify, and I was only asking a loan for $10,000.00, so I guess what I own for a home isn't good enough to even qualify. It disturbs me to know that just because I don't live in a $60,000.00 home or higher they won't even consider me so I can do some home repairs, I even own my mobile home now free and clear so it should have made the process easier.

This was the worst experience I have ever had dealing with a company. I tried to get a loan thru NewDay. I started the process may 4th 2015 after giving them all the info they requested and performing repairs to my house as per the FHA appraiser. They said on July 13, 2015 that the loan was declined due to condition of the house. They need the condition of the house in may 2015. So why it took an additional 45 days for them to come to that conclusion I have no idea. They contacted my employer without my knowledge. So who else knows what additional information they requested without my knowledge after they knew the condition of the house.

False advertising. They do not service veterans... attempt to rip off instead.. We applied for a total of $161,000.00 and were approved on the spot. The total they finished with after their "fees" was $176,000.00. Certainly would not recommend them. Smooth talkers but a rip off. Past experiences of refinancing with other financial institutions have never exceeded $3000.00 including appraisals. The Admiral should check it out before he endorses this "company" that is stuffing their pockets from the "Veterans they seek to serve."

Had an appraisal done on house. Took 400.00 from me. Never heard anything from appraiser. NewDay can't get a hold of him. Can't get my own appraiser, has to be one approved by VA.

First and foremost I will admit that my credit history is not the greatest, however I have greatly improved that over the last 5 years paying off all my bills and finally getting my financial house in order. After a long period of calls and paperwork I was denied because of 90 day late payments almost 5 years in the past! This company does not care about Veterans as they tout in their advertisements and one little issue will stop the process immediately! I would stay well away from this false and painful process if I were you.

I called to inquire about a stream line refinance of my VA loan. I am retired Navy so when I saw their commercial about treating Veterans more than just a number I thought maybe they would be different, boy was I wrong. I went through the whole application process and they even pulled my credit, which is 772 by the way. After about 45 minutes I was told that since I was involved in a short sale back in 2011 that they would not do anything for me for five years. It didn't matter that I was able to get a VA loan for my current home after only two years after the short sale. When I brought this up the guy said "our money our rules.” I feel they actual treat veterans worse than many other financial institutions that deal with VA loans. I will never have anything else to do with such an egotistical company ever again. Sad excuse for a company that says they treat veterans better than others.

Be very careful on loan fees, etc. They can be a lot. Shop around, the fees are much better elsewhere.

I contacted NewDay USA to find out what their loan rates were for a 15 year fixed rate mortgage. I did not want to give the guy my Social Security number to enable him to get a credit check because I already knew my FICO score which was almost 800. He insisted, and I caved. Too bad I didn't read the reviews before contacting them. The guy said he would pass my info along to someone who could help me within 24 hours. Haven't heard from them, and I'm sorry I was duped into believing their (false) advertising.

This company is a scam, they promised to refinance my home and added $10,000 in fees not including interest. They had me pay for an appraisal and then denied the refi because the home did not appraise high enough when the $10,000 was added. These people should be shut down and forced to stop preying on military people.

I was refused a loan with NewDay and their reason was is that I have not made a mortgage payment in many years. Even though I have credit ratings in the mid 700s with all three credit agencies. This outfit is a ripoff company and is not the least bit interested in the Veteran. All they want is your money. My best advice is stay away from NewDay. Their whole program is BS. The Admiral on TV should be ashamed of himself for trying to sucker in the Veteran who served his country. He should recant his statement. I wonder how much he was PAID to do this AD. You know I doubt if anybody at NewDay was ever in the service of his or her country.

They wouldn't consider me for a debt consolidation loan. I was told by a representative that I must have a mortgage in order to get equity from my house. After I filled out an online application, I was sent a disapproval with extreme disorders with my credit etc. The part about a veteran being more than a credit score is an insult to me, a veteran. A totally bad experience for me; it's as if I was pushed aside for being too small in my request for a small loan.

Had a very positive experience. Contacted New Day in late August 2014 and closed loan in 5 weeks at a lower interest rate that we had. We had allowed ourselves (wife and I) to take on too much debt while supporting our unemployed son who needed major surgery. Rep at New Day worked with us and we could not be happier. We paid off most of our debt while reducing our interest rate! Our FICO score this morning is 829!

Recently I contacted New Day to refinance my VA mortgage on my house. The individual that I contacted requested a lot of information in which I gave him most. I also attempted to find out the going interest rate on a 15 year mortgage and also find out approximately how much it would costs to refinance. He was not willing to give me any of this information, even though I requested approximate information. He insisted on running a credit check but I told him my score that I received from the bank, which is a 755. He made it a point to put down Credit Karma and said they are not accurate.

Suppose to close with in 30 days, now on day 41. They are telling me my house needs some painting and here we are the middle of Dec. I don't see too many houses being painted right now. If they don't want to give me the loan, just say so. At this point looking at reverse mortgage.

I would suggest strongly that you disclose your high credit score requirement before you waste potential customers' time and lower their credit scores through your investigations. This is unfair to those trying to raise their credit score and a complete waste of valuable time. I find your business tactics to be lacking with so many canceled calls and inability to give clients undue time and attention!