Acquisition Joins National Mortgage Originator & Servicer with Industry-Leading Correspondent Lender
Plymouth Meeting, PA (April 9, 2018) —National Mortgage lender New Penn Financial (New Penn) today announced its acquisition of the Envoy Correspondent Lending Division. The addition of Envoy Correspondent Lending rounds out the organization’s business channels, which include existing origination channels in Call Center, Joint Venture, Retail, and Wholesale.
“Finding a partner that shares our values in quality and client service was extremely important to us in building out this division,” said Kevin Harrigan, New Penn’s president. “The Envoy team has demonstrated consistent business growth and earned a solid industry reputation and a loyal client base. We’re thrilled to join with an organization that is already excelling in this space. We’re excited to welcome the Envoy Correspondent team to the New Penn Financial family and look forward to having them help us expand our presence in the Correspondent Lending arena.”
Since 2013, the Correspondent Lending Division of Envoy Mortgage has created value for its correspondent partners by providing expert guidance and lending solutions. Backed by more than 250 combined years of delegated and non-delegated Correspondent Lending experience, the management team knows the importance of exceeding expectations and providing lender partners with exceptional customer service.
“We are very excited about joining the New Penn family,” said Dan Hastings, EVP/Envoy Correspondent Lending Division. “I’m proud of our group and what we’ve built over the last five years. In addition to the new products and servicing capabilities offered by New Penn, this amazing opportunity will allow us to further grow and expand our Correspondent Channel.”
Envoy’s existing clients can expect to continue working with the same great sales and operations staff. They’ll find competitive rates and an expanded product line (including Non-Agency, proprietary offerings) as part of the acquisition. The new division begins conducting business under the name New Penn Financial National Correspondent Lending Division as of April 9, 2018.
New Penn will continue operating its Wholesale and Emerging Banker Lending group as part of its TPO division.