Former Ginnie Mae President Appointed to Lead NewDay USA

NewDay USA parent company Chrysalis Holdings today announced the appointment of former Government National Mortgage Association “Ginnie Mae” president Joseph Murin to serve as chairman of the company’s board of directors. NewDay is now counted among the reverse mortgage industry’s top 15 lender by volume.

Murin served as Ginnie Mae president from July 2008 until he resigned from his position in August 2009. His tenure fell between both the Bush Administration and Obama Administration. Most recently, he served as CEO at National Real Estate Information Services, a funds portfolio owned by Fortress Investment Group. He is co-founder and vice chairman of The Collingwood Group.

“Now is a great time to be a part of Chrysalis Holdings,” Murin said. “The company has been very successful in its approach to investing in growth-oriented businesses. I am eager to join this strong team of leaders, as we further expand the companies already in the portfolio and actively seek new opportunities where we can add value and develop growing companies into industry leaders.”

NewDay USA recently changed its name from NewDay Financial. The company has closed close to 500 reverse mortgage loans to date in the last 12 months, according to data from Reverse Market Insight, and named new reverse mortgage president Julie McMillin Lee in November.

Written by Elizabeth Ecker

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