New Penn Financial, LLC
Financial ServicesPennsylvania, United States201-500 Employees
New Penn Financial, LLC operates as a mortgage lender within the financial services sector. It is based in Plymouth Meeting, Pennsylvania, and now operates under the name NewRez, continuing to offer its existing loan products and client service. It was acquired in July 2018 by New Residential Investment Corp, after which it rebranded to NewRez. Its customers include borrowers seeking mortgage financing and loan professionals who facilitate the process, with activity spanning direct lending and correspondent channels. Between 2018 and 2019 the company expanded its capabilities through partnerships with technology providers to streamline underwriting and loan data submissions, and launched products such as SmartFunds as part of its SMART Loan Series. The company also expanded geographically, opening a downtown Portland, Oregon office and engaging in training partnerships such as Cultural Outreach to support loan professionals.