This Business is not BBB Accredited
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BBB Accreditation Revoked on June 4, 2015.
On 06/07/2015 this company's accreditation in BBB was revoked by BBB's Board of Directors due to recent government action involving the business's customer relations which indicates a significant failure of the business to meet standards of conduct expected of a BBB member and engaging in activities reflecting poorly on the BBB or its members.
Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.
Reason for Rating
BBB rating is based on 13 factors. Get the details about the factors considered.
Factors that lowered NewDay USA's rating include:
- Government action(s) against business.
Factors that raised NewDay USA's rating include:
- Length of time business has been operating.
- Complaint volume filed with BBB for business of this size.
- Response to 53 complaint(s) filed against business.
- Resolution of complaint(s) filed against business.
Customer Complaints SummaryRead complaint details
|Complaint Type||Total Closed Complaints|
|Advertising / Sales Issues||20|
|Billing / Collection Issues||1|
|Problems with Product / Service||31|
|Guarantee / Warranty Issues||0|
|Total Closed Complaints||53|
Customer Reviews Summary Read customer reviews
6 Customer Reviews Customer Reviews on NewDay USA
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||6 Customer Reviews|
If a business refers you to another company or uses sub-contractors, BBB recommends that you research that company including reviewing their BBB business review.BBB file opened: 11/27/2002Business started: 11/27/2002
Licensing, Bonding or Registration
This business has submitted a mortgage lender license for renewal and is authorized to conduct business unless renewal is denied.
Type of Entity
Limited Liability Corporation
Business ManagementPrincipal: Ms. Roberta Pek (Vice President Compliance)
Contact InformationMs. May Khieu (Chief Compliance Officer)Mr. Robert I. Posner (CEO)
Number of Employees
Mortgage Lender, Credit - Debt Consolidation Services, Reverse Mortgage
Products & Services
This company offers mortgage lending, refinancing, debt consolidation and reverse mortgages.
Alternate Business NamesNewDay Financial, LLC, New Day Reverse Mortgage Program, New Day VA Loan Program
Industry TipsConsumer Rights for Debt Collection
Education Information - Debt Management & Debt Settlement (MDAG)
Customer Review Rating plus BBB Rating Summary
BBB Customer Review Rating plus BBB Rating Overview