New Penn Financial has announced that it has acquired Envoy Mortgage’s correspondent lending division.
“Finding a partner that shares our values in quality and client service was extremely important to us in building out this division,” said Kevin Harrigan, president of New Penn. “The Envoy team has demonstrated consistent business growth and earned a solid industry reputation and a loyal client base. We’re thrilled to join with an organization that is already excelling in this space. We’re excited to welcome the Envoy correspondent team to the New Penn Financial family, and look forward to having them help us expand our presence in the correspondent lending arena.”
Envoy mortgage introduced its correspondent channel in 2013.
“We are very excited about joining the New Penn family,” said Dan Hastings, executive vice president of Envoy’s correspondent lending division. “I’m proud of our group and what we’ve built over the last five years. In addition to the new products and servicing capabilities offered by New Penn, this amazing opportunity will allow us to further grow and expand our correspondent channel.”
New Penn said that it would continue operating its wholesale and emerging banker lending group as part of its TPO division.