Items Tagged with 'New Penn'

ARTICLES

  • New Penn Financial is now officially NewRez

    Lender rebrands to name that borrows from its new parent company
    New Penn Financial has rebranded and will be known as NewRez moving forward, the company announced on Monday. Last month, the mortgage lender announced that it planned to change its name to NewRez to align itself with its new parent company, New Residential Investment Corp.
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  • New Penn Financial acquiring Envoy Mortgage’s correspondent lending division

    New Penn continues growth
    New Penn Financial’s growth in the wake of its parent company being acquired by New Residential Investment Corp. is set to continue, as the lender announced Monday that it is acquiring the correspondent lending division of Envoy Mortgage. Late last year, New Residential announced that it planned to acquire Shellpoint Partners, which owns New Penn, in a $190 million deal.
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  • New Penn Financial expands into Nevada with launch of Synergy Home Mortgage

    Launches joint venture with Reno real estate agencies
    New Penn Financial, a mortgage lender that is owned by Shellpoint Partners, announced Monday that it is expanding into Nevada by launching Synergy Home Mortgage. Synergy Home Mortgage is a joint venture between New Penn and local real estate firms Dickson Realty and Ferrari-Lund Real Estate.
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  • New Penn launches mini-correspondent division

    Lending product popular among credit unions and community banks
    The 46-state lender said under the program, mini correspondent clients originate loans, submit them to New Penn for underwriting. Once the lender gets the clear-to-close, they sell the loans back to New Penn post-funding.
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