National mortgage lender New Penn Financial has acquired the correspondent lending division of Envoy Mortgage for an undisclosed sum.
The addition rounds out New Penn Financial’s business channels, which include existing origination channels in call center, joint venture, retail and wholesale.
“Finding a partner that shares our values in quality and client service was extremely important to us in building out this division,” says Kevin Harrigan, president of New Penn, in a release. “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.”
Since 2013, the correspondent lending division of Envoy Mortgage has created value for its correspondent partners by providing expert guidance and lending solutions. Backed by more than 250 combined years of delegated and non-delegated correspondent lending experience, the management team knows the importance of exceeding expectations and providing lender partners with exceptional customer service.
The new division is now conducting business under the name New Penn Financial National Correspondent Lending Division.
New Penn will continue operating its Wholesale and Emerging Banker Lending group as part of its TPO division.