Complaint Review: New Day USA - Nationwide

A retired Rear Admiral appears on TV & claims to want to help veterans obtain Home Loans, Refinancing, Debt Consolodation, etc. throgh a program that they have earned by serving their country.

I applied online & was contacted by phone by a loan officer who was a smooth talker & presented a glossy picture of their loan program.  When I asked about fees, he replied that New Day would pay for my appraisal fee.  When I pressed him further about the amount of entire fees he said their would be additional fees which would be folded into the lloan & I would not pay a penny out of my pocket.  Upon further questioning about actual amounts the said the administrative fees would total about two thousand dollars.  When I told him I was not interested in his program due to that amount of money, he then said he would waive those fees.  I then told him that I was not interested in doing business with a company who would charge a two thousand dollar fee if they could get away with it but would agree to waive if if pressed.

Later I receive a thick package by mail with pages of loan docments.  Upon review I found that with all of the charges they were including, my debt would increase by over $15,000.  Even though my payment would be low due to  the length of time they spread it over.

Bottom line, I told him to forget it, I was not interested in pursuing the loan any further with New Day.  Later he called my home & tried to talk my wife into going along with the loan.  She also told him we were not interested.  

Just today, I received the following email from a different loan officer at New Day:  In my opinion, it is dispictalbe how these leeches smooth talk less informed veterans into taking out loans, pretending to help them get what they have earned, when in fact any veteran with an acceptable credit score could get a loan at many other companies and incur much less expenses than New Day is charging.  These individuals should be ashamed of themselves, especially retired Rear Admiral Thomac C. Lynch.  He makes me sick everytime I see him on TV trying to scam his fellow veterans.

Dear John,

My name is Tremaine Lee Crayton and I will be your personal loan officer. It will be my pleasure to assist you with your loan inquiry regarding the NewDay Loan Program.

I would like to speak to you as soon as possible regarding your inquiry in order to take the next step in the process. Please call me toll-FREE at (888) 809-2931 at your earliest convenience. I'm available to assist you Monday through Thursday from 10am-8pm, Friday from 10am-6pm, and Saturday from 10am-5pm (EST).

As your personal loan officer, I am here to answer your questions and provide you with the best possible service throughout the loan process. A NewDay loan for up to 100% of your home's value, including your current mortgage balance may be available. On average, our customers save $700 a month, allowing them to consolidate their debt and free up money for everything from home improvements to college tuition payments. Here at NewDay USA we have given thousands of homeowners like you an opportunity for a fresh start and we look forward to working with you to help you achieve your mortgage goals. As our chairman, Admiral Tom Lynch, says, "At NewDay USA we understand veterans. My team will take the time to get to know you and look at your total picture."

You can start the application by calling me toll-FREE, (888) 809-2931. It is my pleasure to serve you.

Sincerely,

Tremaine Lee Crayton

NMLS ID: 1223776

NewDay USA

Company NMLS ID #1043

Toll Free Direct: (888) 809-2931

Toll Free Fax (866) 849-7462

E-mail: [email protected]

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