Terri Merlino joined New Penn Financial in September 2013 as chief credit officer. New Penn operates three business channels, originating through direct relationships with the agencies and via non-agency loan originations with its parent organization, Shellpoint Partners.

In addition to her ongoing job responsibilities of managing credit policy and execution, Merlino led the effort to select and implement LoanScoreCard’s Custom AUS to aid in underwriting jumbo, non-agency loans in a timely and efficient manner. Underwriting these loans manually meant that just one loan could take hours.

Merlino has transformed New Penn Financial’s credit function, formalizing basic functionality in the group and leading the company from the start-up phase to a more mature model. She has partnered with risk management to create an industry-leading product development and execution team, clearly articulating the company’s credit quality standards and credit appetite.

Merlino is a key member of New Penn Financial’s senior management team, and has served on several industry committees, including Fannie Mae’s Risk Management Forum and Freddie Mac’s Credit Advisory Board.

Prior to joining New Penn Financial, Merlino spent many years at PHH Mortgage. In her roles as senior vice president, credit and operational risk at PHH Mortgage, she was responsible for fostering a risk-aware culture through her leadership of all aspects of credit and operational risk management.

In addition, Merlino serves as president of the American Cancer Society South Jersey Region Board of Advisors and as vice president of the Society’s Eastern Division Board of Directors. She was a founding member of the South Jersey Hope Gala, which has raised $1 million dollars to fund the mission of the American Cancer Society.

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