Chao Deng, Maylene Tan Khieu, Crystal Raines and Pooja Bansal enable leading VA lender to continue serving military families during difficult environment
May 26, 2020 – FULTON, Maryland – NewDay USA, one of the nation’s top VA mortgage lenders, is seeing significant growth thanks to the leadership of four accomplished women in the company’s c-suite. Chief Financial Officer Chao Deng, Chief Administrative Officer Maylene Tan Khieu, Chief Compliance Officer Crystal Raines and Senior Vice President Pooja Bansal are leading the company in the otherwise challenging environment.
Deng, the company’s CFO, is navigating the company through the difficult financial market while building the balance sheets. Deng has more than 15 years’ executive experience, having cut her teeth in financial services at companies such as GE Capital, PwC and Wilmington Finance. “It is an honor to serve alongside highly qualified and exceptional colleagues while serving nation’s veterans,” Deng said.
As a result of the pandemic, NewDay has transitioned more than 90 percent of its 500 employees who work at its Baltimore-area office to working from home. The key architects behind this mammoth transformation have been Khieu and Raines, senior leaders who each have more than two decades’ experience in underwriting, origination and operations management in the mortgage industry. Early on in the pandemic, Khieu and Raines led the business continuity planning sessions in order to enable most of the company’s staff to work from home.
NewDay has kept up with constantly evolving policies, rules and regulations thanks to the leadership of Raines. The CCO, who has been with the company for more than a decade, is a VA underwriting authority with more than 20 years’ underwriting and operations experience.
“Maintaining compliance with the requirements of the Department of Veterans Affairs, Ginnie Mae and local, state and federal regulators during these times has also been a challenge for many lenders,” Raines explained. “At NewDay, we’ve kept on top of this fluid situation to ensure military families can continue to close on new transactions and to help veterans with existing mortgages who are struggling to make payments.”
Meanwhile, Bansal, who is SVP of human resources and communications and recently earned her MBA from the Wharton School, is playing an instrumental role in leading the company’s growth to 1,000 team members over the next year. Partnering with NewDay University, she is redesigning the company’s online training program and helping new hires get trained so they can serve our veterans while staying safe at home during the pandemic. Previously, Bansal served as a former assistant vice president at Barclays and as an IT consultant for SEI Investment Co., where she ran several initiatives to promote women into technology and leadership roles.
“At NewDay, we are proud to have a diverse and inclusive workforce at every level of the company,” Bansal said. “I’m especially grateful to have such accomplished and dedicated female colleagues. Their contributions are enabling the NewDay family to continue serving veterans and active-duty service members during this difficult period.”
About NewDay USA
NewDay USA is a nationwide VA mortgage lender focused on helping active military personnel, veterans, and their families achieve their financial and housing goals. NewDay, which was named a Best Military Lender by National Mortgage Professional, is also a Ginnie Mae (GNMA) approved issuer/servicer. The company employs best practices in mortgage lending and career growth for mortgage professionals. Consistent with its mission, NewDay is a philanthropic partner of numerous organizations focused on assisting military veterans and their families in need. The NewDay USA Foundation provides four-year scholarships to the children of fallen and severely disabled military veterans to attend JROTC military high schools across the nation. The company is also a major philanthropic partner of the Medal of Honor Foundation, the USO, Boulder Crest Retreat for Military and Veteran Wellness, and is a major sponsor of the Military Bowl. Community service and giving back in the form of volunteerism also play a significant role among the NewDay USA workforce. NewDay USA is a registered trade name of New Day Financial, LLC (NMLS # 1043), which is a key holding of Chrysalis Holdings, LLC, a premier private investment company focused on the financial services industry. For more information about NewDay USA, visit www.newdayusa.com.