NewDay Financial Adds New CFO

NewImageNewDay Financial announced that Doug Douglas has been named chief financial officer of the Fulton, MD, based lender.

In the role, Douglas’s responsibilities include strategic planning, treasury and cash management, accounting and financial analysis.

“In a rapidly changing lending environment, in which mortgage lenders must stay nimble and remain focused on cost-effective business processes, as well as transparency, consumer protection measures and compliance, we are thrilled to welcome Doug to the executive management team,” said Rob Posner, CEO, NewDay Financial. “Doug Douglas brings more than three decades of experience as a mortgage industry executive to our organization. He is a valuable addition to our organization, and will play a large role in our success as we work toward ambitious goals for continued growth, with special emphasis on VA lending, as well as the reverse mortgage market.”

Douglas bring more than 35 years of mortgage banking business and recently served as executive vice president of business processes for American Home Mortgage.  Previously, he served as chief financial officer for Columbia National and its predecessor PaineWebber Mortgage Finance, a regional mortgage banker producing $3 billion per year and servicing 60,000 loans.

“I am delighted to join NewDay and look forward to working with the executive team of this vibrant company,” said Douglas. “Ours is an exceptional work environment, focused on innovation and integrity as we strive to meet key objectives for efficiency, productivity and growth.”

According to data from the Department of Housing and Urban Development, the company endorsed 553 HECM units in 2010.  For more information on its reverse mortgage volume, check out their listing on ReverseBase.


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