New Penn Financial, of Plymouth Meeting, Pa., has expanded its wholesale lending division, adding more than 30 employees who were recently let go by Green Tree Servicing.
The new hires consist of three regional sales executives and 28 account executives from the wholesale division of Green Tree, of Fort Washington, Pa., one of several lenders leaving the market.
The additions nearly doubled New Penn's wholesale sales force to about 70 strong, according to a company release.
Green Tree's exit presented "an opportunity to bolster our wholesale sales team" with experienced individuals who will help "significantly expand" New Penn's market share and products, said Brian Simon of New Penn in a press release.
The new regional sales executives oversee large territories: Wells Constantine will cover Northern California and the Northwest; Zeenat Zonte, Southern California and the Southwest; and Tony Petronio, the Northeast and Midwest.