New Penn hires 31 from Green Tree amid home lender cuts

New Penn Financial LLC, Jerry Schiano's Plymouth Meeting home lender backed by Wall Street securitization pioneer Lewis Ranieri and Shellpoint Partners, is bucking the mortgage-refinancing bust in which Wells Fargo & Co. and other big lenders have been cutting back home-lending operations. New Penn will add 28 mortgage account executives and three regional sales bosses formerly with Green Tree Servicing LLC, Fort Washington, which has shut down its wholesale-mortgage arm, according to New Penn. 

The hires include executives Wells Constantine for Northern California, Oregon, Washington; Zeenat Zonte, for Los Angeles and the Southwest; and Tony Petronio, for the Northeast and Midwest, New Penn's Brian Simon said in a statement. The company now employs 1,400, including 200 in the Philadelphia area. That's up from a total of 1,100 last September.