NewDay USA Reviews

In December of 2016, I started a loan approval to purchase a house.

First, Sasha Malcolmson (the credit person assigned to me) was a complete "out-to-lunch" employee. I sent numerous copies of documents she requested and received no feedback and no phone calls. I left numerous messages to call me, with no return calls.

Then Teresa Ruck took over, and she was worse than Sasha. She promises that loan qualifications were on the way. On 4/7/2017 I informed Teresa that I put a contract on a house and needed loan commitment, and I have yet to hear from her. On February 5, 2017, I received a preliminary approval letter, which was three days AFTER IT EXPIRED.

Bottom Line: No, I would not recommend this to a friend

I had not seen these reviews before using New Day and wish I had. My experience through the process was not horrible but they took a very long time to get the paperwork in order. It was basically two months. We did the closing, a lot of paperwork but relatively painless. The surprise came when we were supposed to received the funding. I work as a consultant and travel. The night before the funding was to be released they are asking for copies of void checks, copies of drivers licenses. The notary had to complete a form and sign it providing the information on the licenses and we completed closing documents (multiple different forms) with both the bank routing and account information as well as the drivers license information. Everything was 100% complied with, signed and attested by the notary in the closing documents.

The whole funding delay and last minute request to jump through hoops to provide information previously provided in a legal document within the closing package just does not pass the "smell" test. Still waiting for the funding release after complying with all the "new" duplicate information. They also tried to tack on a lot of fees, most of which I rejected. I refinanced an existing mortgage and rolled in some debt with the result I should pay less on the mortgage than I had been, kept the same payoff end date and not have the other bills so it should be a great deal for me. Their failure to perform has left a sour taste on the whole situation and I hope they actually complete the funding. If not done in a couple more days, I will start the process all over again with a Colorado based lender and file a law suite against New Day. Not a happy camper!

Bottom Line: No, I would not recommend this to a friend

As a Veteran, I applied for a loan to refinance my house. I filled out forms, sent them info and paid them a fee with one of my credit cards.

Once they collected the money, they vanished. Never returned phone calls or answered mails from me.

This is SCAM.

Bottom Line: No, I would not recommend this to a friend

I own ten acres of reasonably valuable property with a double wide trailer and addition outside of Denton, Texas that is completely paid for. I needed to take out a mortgage for cash to pay for a divorce that was not my idea.

After filling out the application, etc., I received an email from Timothy O'Boyle telling me that they are unable to loan money to people who have manufactured or mobile homes. He then stopped responding to any further attempts to contact him via email or phone.

I think these guys are just middlemen processing VA loan applications anyway, adding no value to anything but their own wallets.

I suggest you look elsewhere. These guys were very unhelpful to me and seem shady.

Bottom Line: No, I would not recommend this to a friend

I applied online and they never even contacted me. Perfect credit, more than 50% equity in my home. Either they have too much business or are running some sort of a scam.

Bottom Line: No, I would not recommend this to a friend

When we originally purchased our home, our closing was a NIGHTMARE! Everything that could go wrong, did. The company that handled our closing made so many mistakes. So, we were very nervous about doing a VA refinance. We had been receiving information on New Day USA in the mail and had seen some of the commercials on television. When we called we spoke with Kyle Stolte. From the very first call to the closing, Kyle walked us through each step of the way. Kyle answered each and every question we had (and we had a LOT) professionally and in a timely manner. We never had to wait more than a day to get answers. Kyle truly went above and beyond and we recommend him highly for your needs. Refinancing through New Day has allowed us to consolidate all of our credit cards and also provided us with equity to complete some remodeling projects we've wanted to for over 5 years. Honestly, had we known this would be such a pleasant process, we would have done it sooner. Thank you Kyle and New Day for doing such an amazing job!

Bottom Line: Yes, I would recommend this to a friend

I just finished refinancing my house with NewDay USA. I am pleased with the process. I was skeptical to go with this company after reading some of the reviews but contacted them by phone and discussed some options. I also contacted several other companies. NewDay USA was straight up on the first phone call about what they would do for me while the other companies all wanted to know what the last company said they would do. I went with New Day USA and am pleased I did.

They do require a lot of paperwork but nothing that seemed unreasonable. The process did take over 60 days but I did not feel it was being "dragged" out on purpose.

My account manager was Chris Khokhar and was helpful over the phone and was always available if I called.

The closing went smooth with no surprises.

I am a Veteran with the US Navy and they constantly emphasized their appreciation for my service.

Looking back on the experience with the question, “If you had to do it all again with New Day USA, would you?” I can say yes.

I hope this review helps someone and if it does I hope their experience is equal to mine.

Bottom Line: Yes, I would recommend this to a friend

Was just interested in getting a good faith estimate. Instead was sent a lengthy application full of unnecessary information and told that I needed to apply for a loan before they could give the GFE.

Shouldn't have wasted the little time I spent doing the inquiry. I would recommend you don't either unless you don't care about applying for a loan you might not even use.

Bottom Line: No, I would not recommend this to a friend

I am a Vet and I applied for to NewDay USA for refinancing. I didn't qualify because I live in a Condo and the VA is extremely strict on Condo refinancing. The requirements are way too strict for the amount of paperwork that's needed. The paperwork that's needed is far way more than needed for a home. Condo Association didn't have the time to gather all the requirements. My credit checked out and my income was fine. So, because of all these documents that the VA needed, I couldn't get approved. So because you are a VET and you are credit and income worthy, that apparently doesn't account for nothing.

Bottom Line: No, I would not recommend this to a friend

I went to NewDay USA and applied for a loan, and when they called me, they said they do not finance manufactured homes. Their main page that you inquire on asks what type of residence and I checked manufactured home.

This is a complete lie, and nobody should use them.

Bottom Line: No, I would not recommend this to a friend

A short time ago I was at a point of desperation dealing with overwhelming debts and charges that never quit coming and had no way of keeping track of, let alone keeping paid on time. Worried all the time of losing my house and all that I had worked hard for so many years. That all changed and my anxiety washed away after making a call to NewDay USA. A representative immediately went to work to resolve my problems and developed a plan that honestly has changed my life and put me on back of firm ground. He gave me back my future and worked miracles for me that I never thought would happen! I am on the path that I want to be on now and I am very happy about the freedom and security all their work has given me. I haven't the proper words to express my gratitude to Mr. Jordan Stout and Admiral Lynch and all the staff at NewDay USA, thank you so much.

Bottom Line: Yes, I would recommend this to a friend

Friendly, helpful and easy. Mark was a great help making this loan so easy. The loan closed as promised. Lowered interest rate. They really took care of us, my husband was a veteran. Our mortgage was lowered, and we paid off credit cards. All this was done by phone. I would highly recommend this company. They also do loans for non vets. All I can say is thank you, NewDay USA.

Bottom Line: Yes, I would recommend this to a friend

My husband is a disabled veteran and received a preapproval paper in the mail. We were a little hesitant about checking into it, but we gave them a chance. We got a GREAT guy named Jon Riley. He was very helpful and explained everything up front.

Our process took about two and a half weeks from beginning to end. We have a great rate, paid off our medical and credit card debt, and put money in our savings. It was truly a painless process, nd I couldn't be happier!

Bottom Line: Yes, I would recommend this to a friend

I am so happy I chose NewDay. As many American's, I went through a very stressful financial situation back in 2009. I don't have great credit; Fair is a more accurate description. I had an existing home loan with can interest rate that continued to grow year after year. I was turned down by other lenders for a Refi, but NewDay approved me. I closed my loan in just over 30-days (application to closing). I paid down my debt, got cash out for some home improvements and have an interest rate less than I was paying and a monthly mortgage that is less than I was previously paying. Yes I have to start the 30-year loan over; I had been making payments on my previous loan for 10-years. However, I have less debt now and a monthly payment that is more manageable. NewDay saved us a great deal of money. Closing costs were $20k, but a small price in my eyes for the freedom we now enjoy. Thank you very much NewDay.

Bottom Line: Yes, I would recommend this to a friend

I am a US Air Force veteran. I saw the T.V. ads for NewDay USA and I kept bugging my wife to at least consider applying for a re-finance in order to reduce our 7.75% interest rate. We had quite a bit of equity built up, and we had recently undergone some home-renovations. Well, wouldn't you know it, but my wife went online and filled out the initial application early on a Saturday morning. We received a call-back from Tony about 15 minutes later, inquiring what we were trying to accomplish by re-financing. We explained our current situation to him, and he was quite helpful in suggesting various opportunities available to pay off all of our credit-debt, combine our mortgage, our homeowners' insurance and our property taxes into a very manageable monthly payment amount, and to reduce our interest rate to about 4.5%. The entire process from start to finish took exactly 30 days. I must admit that there were a couple of minor, slight "glitches" along the way, which gave us some temporary anxiety, but I'm sure that this is to be expected with any re-finance application. All in all, we are totally pleased with the way NewDay USA handled our mortgage application, and I would not hesitate to recommend them.

Bottom Line: Yes, I would recommend this to a friend

The lender we dealt with was AWFUL! We are two weeks past a 40-day contract and he is still coming up with answers such as "I don't know." DO BETTER! Find the answers! My seller is beyond frustrated and has considered not signing an extension unless his buyers switch loan companies. He doesn't answer emails very quickly - as in days - not hours. And he is NEVER friendly. My seller, who is an investor who closes 15+ properties a year, will NEVER go under contract with a buyer with a preapproval letter from NewDay USA again.

Bottom Line: No, I would not recommend this to a friend

Total technology experience, no face to face (except appraiser and closing attorney), always dealing with computer, messages, and phone, however, this is 2018. The coordinator says one thing that will happen, however, in the end, two days before closing, it is a totally different story. Good news, the VA loan did close, however, for $30,000 less than we told we would receive for repairs. They way the funds were dispensed were totally unprofessional; if not dangerous in this third or fourth party system.

Bottom Line: No, I would not recommend this to a friend

The person that handled my transaction made me feel like they were doing me a favor. The communication was lacking. I would ask for a call, and I would get an email. Every time I talked to their associate, the numbers would change. I asked him to break it down for me and he couldn't. I had to put the numbers into an Excel worksheet and break them down myself, so I could understand. I have gotten three couples that I know that are looking for a refinance to look elsewhere. I still have never received a call from a supervisor like I asked. I will continue to tell people my story on how poorly I was treated.

Bottom Line: No, I would not recommend this to a friend

It was the worst experience I've ever had when buying a house. I was lied to, tricked, and had to keep sending the documents over and over again. "Someone kept losing my paperwork," and no one knew who it was. I spent thousands of dollars paying for hotels and moving trucks. This veteran was homeless for two months due to their people dropping the ball. I feel they owe me some money for the way I was treated. This company is the worst. Needless to say, we are very dissatisfied with NewDay USA! I will be consulting an attorney to recover the money their company cost me. I have also started a social media campaign against this company. Get your stuff together!

Bottom Line: No, I would not recommend this to a friend

I was very impressed with the NewDay approach to refinance my loan with a VA loan. Kyle Stolte was very upfront on all aspects of the loan process. Very hi-tech loan processing paperwork was done via the internet, very simple. Kyle walked me through the process. Everything that was done as they said it would be. I would be more than happy to tell my Veteran friends, do not hesitate if they have a need for extra funds, just give them a call, they quickly responded and got the ball rolling in the first 24 hours of my call. My final synopsis very professional, highly reputable loan service!

Bottom Line: Yes, I would recommend this to a friend

I was very pleased with the service I received no from my NewDay representative (Jesse). He was very professional, thorough and helpful answering all of my questions. I would recommend this lender to any Veterans looking to refi or start the mortgage process. Thanks Jesse and NewDay! Well done!

Bottom Line: Yes, I would recommend this to a friend

I was scheduled to close on my house on the 13th of April 2018 and didn't end up closing until the 23rd of April 2018. Loan originator (Sasha Malcolmson, Assistant Vice President-Loan Origination) was always asking for more paperwork that was provided previously. She was good at telling me I was on a recorded line. I would have to follow up with the title company to see if they received paperwork from NewDay USA. After initially getting set up on my loan, when I would call I would always get the answering machine after and not get a call back except to tell me they needed new documents. My realtor was also having the same issues with getting any kind of response.

I will never recommend anyone to go through NewDay USA unless they want to have a headache for weeks and test their stress level. If I was Thomas C. Lynch, RADM (retired) I would take my picture off any NewDay USA advertisements. Very unsatisfied customer!

Bottom Line: No, I would not recommend this to a friend

I have refinanced thru NewDay before and it was a very pleasant experience but this time I believe my Loan agent Kevin Clough dropped the ball on many occasions.

We were supposed to close on the 18th of July and did not close until the end of August. He did not return my emails or phone calls and just kept giving pat answers which he had never followed up on to make sure it was done and did not follow up on my solar lien leaving me to finally handle it at the last minute to close. Weeks after he was informed of and given to documents needed to take care of. This experience has left a bad impression with me about NewDay.

Bottom Line: No, I would not recommend this to a friend

I knew going into this that at 1% origination cost NewDay USA was significantly more expensive than other lenders. I expected that NewDay was experienced and the process would be as easy as my last refinance. What I did not realize was that while the nice, respectful agent who was willing to work with me after 5 pm when I got home from work had no experience and no oversight. My home has significantly increased in value, 50%, in six years. I have never missed a payment. I chose to refinance to pay off credit card debt. My agent Cody was right on it, calling me nightly making sure I got my appraisal. After that, he only called when he needed something ASAP. Documents he couldn't accept because they were encrypted, and needed me to re-send my PII unencrypted. Then he didn't even warn me, I just got a call from a random credit agency and I had to chase my agent down to tell me they needed to validate my most recent mortgage payments. (I was...just supposed to trust a random call from a credit agency?) But I did it. So imagine my surprise when I call him the night before my closing - agreed upon and still "cleared to close" on 1/17 on my dashboard - when he tells me no, the company can't close for a week after I electronically signed the electronic copy of the paperwork I had just received. When I follow-up again, he says I'm cleared to close, but he can't schedule the notary. And when I close with the notary on 1/24, I realize that my agent had lied to me (it is on your phone record) about being able to pay my mortgage 1/2 every two weeks when I get paid. Which is called "partial payments" and is not an allowed option on my new mortgage. So now I am sitting at home, filling out the paperwork to go with these stupid creditor checks that I have to mail myself just so you can keep the money for a few more days by not wiring it to me to pay online, and I am very, very angry.

Bottom Line: No, I would not recommend this to a friend

I don't have the words to express how great an experience it was refinancing through NewDay USA. Jonathan was terrific! The whole process could not have been easier, and I was kept informed every step of the way.

I sing your praises to everyone. Keep up the good work serving veterans.

Bottom Line: Yes, I would recommend this to a friend

I think everyone I had to speak to, Sean Wall and Collin Hall, were incredibly nice guys. Really easy going, always answered the phone, just overall great guys to do business with. One thing that could have been better, which would have made this process a 9 out o 10 (cause nobody is perfect), is that I wish they didn't have to request the same information more than once. I swear, it was incredibly annoying, to have to resend things more than once.

Bottom Line: Yes, I would recommend this to a friend

I was not very pleased with the interest rate. I feel it could have been a little better. Since I have undertaken this refinance, I have been offered interest rates as low as 4.63. Your Rep was not very sociable, and his response to my email or text questions were very slow or non-existent. Sometimes I had to ask more than once. Although he sounded nice, maybe he was overloaded with a workload. I don't think I would recommend NewDay. I would suggest shopping around.

Bottom Line: No, I would not recommend this to a friend