New Penn Expands Into Nine New Markets

Nationwide lender New Penn Financial, LLC, recognized as one of the 500 fastest-growing companies of 2012 by Inc. Magazine, continues its strong growth in 2013 as the company recently opened in nine new markets and now operates 50 local offices across the nation. New Penn has opened branch locations in Columbia, S.C.; Estero, Fla.; Knoxville, Tenn.; Las Vegas; Manassas, Va.; Maryville, Tenn.; Plano, Texas; Rapid City, S.D.; and Universal City, Texas. The branch managers of these locations average 10 years of experience in the mortgage lending industry. “New Penn is committed to developing and growing our retail channel through local branch offices,” said E. Charles Rogers, president of the Retail Division of New Penn Financial. “Our local offices enable our mortgage specialists to work directly with customers in their area to recommend a product that best fits their needs.” In light of the continued housing market recovery, the Mortgage Bankers Association stated that single family starts are predicted to increase through 2013 as home prices continue to improve and the inventory of homes for sale remains tight. “While rates have increased, they are still near record lows,” said Brian Simon, chief operating officer with New Penn Financial. “For customers looking to buy homes, whether it is their first home or they want to consider a new property, it is a great time to lock in a low rate.” Licensed in 46 states, New Penn has forged a national industry presence built on competitive rates, exceptional customer service, and healthy lending practices. Since its founding in 2008, New Penn has surpassed $12 billion in loans and provided funding for borrowers on more than 50,000 loans.