NewDay USA, a nationwide reverse mortgage lender, Tuesday named former Ginnie Mae president Joseph Murin as its new president and chairman.
Murin, who is presently vice chairman of The Collingwood Group, a Washington consulting firm, replaces departing chairman Paul Thompson III, who remains on the company’s board.
NewDay is a subsidiary of Chrysalis Holdings, a private investment firm based in Fulton, Md.
About a year ago Murin stepped down as chairman of Collingwood and became less involved in the day-to-day business of the firm. Collingwood is an limited liability company that employs about 35 full-timers.
Besides serving as president of NewDay, he will be chairman of Chrysalis as well.
Murin served as GNMA president in both the Bush and Obama administrations.
He also co-founded the Collingwood Group.