Chrysalis Holdings, the parent company of NewDay USA, acquired the intellectual assets of Abacus Mortgage Training and Education, who is the provider of Nationwide Mortgage Licensing System & Registry-approved loan officer training and education for mortgage originators, MortgageOrb reports. 

Paul Donohue, founder of Abacus, is planned to join the leadership team at NewDay USA and serve as dean of NewDay USA University. Donohue will manage and oversee the design of leading-edge curriculum devoted to housing finance sales, service and compliance issues.

“The NewDay USA University initiative is one of the cornerstones of our company’s success,” says Rob Posner, CEO of NewDay USA. “At NewDay, we are committed to developing the industry’s next generation of mortgage bankers. The university’s programs, which focus intensely on originations, loan processing and underwriting, will deliver the training that puts our professionals on the path to a successful career.”