Just a month after learning that their employer was getting out of the wholesale lending business, dozens of account executives at Green Tree Servicing LLC have been hired by a growing lender.
Parent Walter Investment Management Corp. disclosed on Feb. 5 that it made a decision to exit the wholesale mortgage lending business.
Around 60 Green Tree employees were impacted by the move, according to Tampa, Fla.-based Walter Investment, which said it would focus its resources on the retail and correspondent lending channels.
On Tuesday, New Penn Financial LLC announced that it has hired three regional sales executives — Wells Constantine, Tony Petronio and Zeenat Zonte — and 28 account executives formerly with Green Tree.
The new employees bring New Penn’s sales executive staff to 70.
“We saw an opportunity to bolster our wholesale sales team and went after it,” New Penn Chief Operating Officer Brian Simon said in the announcement. “These individuals will nicely complement our existing team and enable us to significantly expand our market share while offering our products to more customers across the country.”
New Penn reports that it has funded more than 60,000 loans for more than $14 billion since it was founded in 2008.
