New Penn hires 31 from Green Tree amid home lender cuts
New Penn picks up 31 ex-Green Tree wholesalers
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, 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.