Sunday, August 2, 2015

New Penn hires 31 from Green Tree amid home lender cuts

New Penn picks up 31 ex-Green Tree wholesalers

New Penn hires 31 from Green Tree amid home lender cuts

Jerry Schiano, CEO of New Penn Financial
Jerry Schiano, CEO of New Penn Financial

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. 

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PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at,, 215.854.5194 or 302.652.2004.

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