New Penn Financial LLC
has announced that the company will be rebranded as NewRez at the beginning of 2019. New Penn was acquired by New Residential Investment Corporation in July of this year.
“We are very excited to announce the rebrand and for the growth opportunities it signals,” said Kevin Harrigan, President and Chief Executive Officer of New Penn. “NewRez combines the strength and experience of the New Penn and New Residential brands under one umbrella, and we look forward to the benefits we will collectively bring to borrowers through our Wholesale, Correspondent Lending, Direct-to-Consumer, and Joint Venture/Retail business channels.”
The NewRez name and the decision to rebrand reflect New Penn’s close alignment with its parent company, as well as the combined organization’s commitment to bringing value to its customer relationships and strategic partnerships. Since the acquisition, New Penn has leveraged additional capital and corporate backing from New Residential to grow and to expand New Penn’s product innovation capabilities. The company has continued to develop flexible loan products such as the SMART Series line, which create more opportunities for qualified borrowers to purchase or refinance homes. During the year New Penn has also invested significantly in technology designed to streamline the loan approval process and improve the overall customer experience.
“The new brand represents a combination of our company’s successful history and the bright future ahead,” said David Haggert, Chief Marketing Officer. “More information on the rebrand will be communicated in the coming weeks, including the transition timeline and details of the new brand and logo.”