New Penn Financial Launches New FHA and VA Programs for Mini Correspondent and Correspondent Partners

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First-Time Offering Includes FICO’s Down to 580 and No Appraisal Options for Streamline Borrowers

We are committed to providing quality product solutions for our customers and partners, and look forward to working together to create new opportunities.

National lender New Penn Financial LLC today announced it has expanded its guidelines to allow Mini Correspondent and Correspondent partners to accelerate their government loan business.

Beginning today, New Penn is launching Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) programs to its Mini Correspondent and Correspondent partners. While these products are currently offered by New Penn’s wholesale division, this is the first time the company is making them available to Mini Correspondent and Correspondent partners. Both standard and streamline products will be available.

“We continue to look for new opportunities to help our clients grow their businesses and meet their borrowers’ varying needs,” said Lisa Schreiber, Vice President of Correspondent Lending. “Our unique combination of financial stability and management experience creates an innovative environment that makes our partners at every level more competitive and successful.”

New Penn’s TPO Lending Channel supports Wholesale, Mini Correspondent and Correspondent business in which brokers, emerging bankers and lenders -- utilizing New Penn loan products -- originate, write and sell loans to New Penn. Through a multi-tiered platform, New Penn can meet the needs of all aspects of the TPO client community. Additionally, New Penn offers Agency and Jumbo portfolio products which expand their clients’ capabilities.

“This is an important milestone for us. We now have expanded guides in all channels and can serve virtually all borrowers and all customers through all three delivery channels,” said Brian Simon, New Penn Financial Senior Vice President.

“We are committed to providing quality product solutions for our customers and partners, and look forward to working together to create new opportunities,” Simon added.

Since its founding in 2008, New Penn has surpassed $12 billion in loans and provided funding for borrowers on more than 50,000 loans.

Lenders interested in becoming a client with New Penn Financial can visit http://www.newpenncorrespondent.com/become-a-correspondent or http://gonewpenn.com/get-approved for more details.

About New Penn Financial

New Penn Financial has become a leading nationwide lender by bringing expertise, extremely competitive rates on a broad portfolio of mortgage products, and exceptional customer service under one roof. Founded in 2008, and licensed in 46 states, the company and its reputation have grown rapidly under the guidance of a management team with years of experience in the mortgage industry. New Penn is headquartered in Plymouth Meeting, Pennsylvania and operates 50 branch offices nationwide. New Penn is a Shellpoint Partners company. More information is available at http://www.newpennfinancial.com (for consumers) and http://www.newpenncorrespondent.com (for correspondents).

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Vince Powers
powersbc.com
610-937-1960
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