New Penn Financial Employee Reviews

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Great place to originate loans
Mortgage Consultant (Current Employee) –  Rehoboth Beach, DESeptember 21, 2017
Lots of support and a pretty streamlined loan origination system. The only negative is that a lot of this market is already saturated so it's very hard to build new relationships
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Great company culture
SR. UNDERWRITING LEARNING & DEVELOPMENT TRAINER (Former Employee) –  Marlton, NJAugust 23, 2017
The company cares about its employees. Management is very engaging with its staff. Leadership is visible and has an open door policy. The 2 week training was very good and helped prepare you to perform your job.
Pros
Great management and company culture
Cons
Low volume led to layoffs
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Growth-oriented Mortgage Company
Marketing (Current Employee) –  Plymouth Meeting, PAAugust 18, 2017
New Penn Financial continues to grow since it was started in 2008. I've been working here several years in Marketing and find it to be a place I can continue to learn, have a variation in type and amount of marketing campaigns to manage and have learned a lot about the mortgage business and how consumers get mortgages today. Management helps you to succeed at New Penn.
Pros
Convenient location. Nice building. Small cafe on site.
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Wouldn't recommend
Loss Mitigation Specialist (Former Employee) –  Houston, TXAugust 9, 2017
Overall, not a great environment. They pride themselves on being short staffed. You will be overworked, forced to work overtime, most likely at least one late shift per week and one Saturday per month. The training is not sufficient to learn the job and you will have to ask around to get help - often getting different answers on how things should be done.

I previously had loss mitigation experience. I learned more about short sales, modifications. deed-in-lieu of foreclosure, and other aspects of loss mitigation. However, I would not recommend going to this company even if you already have experience.

Management was detached from the day to day operations of the job and micro-managed based on reports and recommendations from investors. It's more like an elementary school environment than a professional working environment.
Pros
none
Cons
Management, micro-management, compensation
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Good opportunity for advancement
Account Manager (Former Employee) –  Concord, CAJuly 28, 2017
I started this job as a temporary employee. Upon my offer of permanent employment I suffered a family emergency. Since I had only been on the job 60 days I was not afforded the time off, although my direct manager was very sympathetic. I was let go but I am considered re-hireable. This was an isolated incident. I thoroughly enjoyed the training I received there as well as the positive feedback I received on the work I completed. .
Pros
Positive and productive work environment
Cons
time off for medical reasons
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If you are good at sales this is for you.
Mortgage Loan Officer/Branch Operations (Current Employee) –  Kansas City, MOJuly 24, 2017
The office atmosphere used to be like a close family but not anymore. Everyone now just shows up because they need a paycheck.
The hardest part about this job is coming to terms with the fact that no matter what your work ethic is either you are a sales person or you are not. And if you aren't then this job is not for you.
This company gives you all the training you could ever need if you are new to the mortgage world.
Pros
flexibility
Cons
Management, advancement, pay
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Learning a lot!
Accounting (Current Employee) –  Plymouth Meeting, PAJuly 15, 2017
Very busy day, fast paced.. in a laid back atmosphere. For the most part everyone is helpful. I like working independently with out the micro managing.
Pros
Good Company
Cons
need more time for training
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OK to work for
CLIENT ORIGINATION SERVICES TEAM LEAD (Current Employee) –  Plymouth Meeting, PAJune 25, 2017
Nothing really negative or positive. I love my team and they are the only thing really keeping me there. I did learn alot from the company and did learn a little about marketing
Pros
Made Friends
Cons
Management at times could be hard to work with
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Contstant Change and instability.
Wholesale Account Manager (Former Employee) –  Plymouth Meeting, PAJune 18, 2017
I met some great people in my time there. Wouldn't change that for anything. But the wholesale department seems to always be going through constant changes. In the two years I was there, I worked under 3 operations managers and 4 direct managers. There were only a handful of employees that were there longer than 2 years. They just made another sweeping change to the management of the wholesale group before I left. Despite the negatives, there are great people working there and I will be friends with some of my former coworkers for years to come.
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Disorganized, milk you for $
Mortgage Consultant (Former Employee) –  Phoenix, AZJune 2, 2017
Poor quality of leads from lending tree and minimum quantity. You will not make good money here, they have it structured for them to make the money.. Constant change of people and direction.
Pros
fellow employees suffering through this
Cons
Dont have the time to list all of them.
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Productive and fun to work in the mortgage industry
Senior Mortgage Processor (Former Employee) –  Laredo, TXMay 31, 2017
In the mortgage and banking industry I have learned that our first priority is our clients. Always listen very carefully to them so we can identify what the clients needs and provide them with the right products or solutions.
The sad part of my job as mortgage processor was to release bad news to our clients regarding the closing, or credit decisions. The most exiting part of my job was delivering the great news to my customers regarding the closing and scheduling they're closing.
Pros
free lunches
Cons
short or none brakes
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productive and great place to work
Loan Processor (Former Employee) –  Concord, CAMay 30, 2017
I loved working for New Penn Financial. Management and the entire staff was a dream to work for. Great salary, benefits and bonus structure. Working process and policies were very productive.
Pros
Positive environment, great supportive management team
Cons
Favortisim
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Not with the times
Loan Officer (Former Employee) –  Kansas City, MOMay 25, 2017
If you're in the business already just save yourself some time with this one and run away. Outdated systems and set up. No real processors you process your own files. They don't want you to quote rate till app is taken since they do not have competitive rates. They bring in new people since seasoned LO's know there way of doing things is outdated. Hard to get files closed with bad OPS.
Pros
Free lunch once in a blue moon
Cons
Everything see above
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fun place to work at
Mortgage Closer (Former Employee) –  Plymouth Meeting, PAMay 22, 2017
A typical day at New Penn was always good, Great management, and team players made coming to work enjoyable.
Transitioning from servicing into Closing was very challenging at first. Once, I received the proper training.I was able to learn the job task.Working at New Penn was a great experience. Unfortunately, I was let go due to Job reduction.
Pros
free lunch, unlimited over time, flexible hours, great management
Cons
job security, miscommunication
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Dificult to adjust to Wholesale Lending philosophy
Mortgage Loan Underwriter (Former Employee) –  Philadelphia, PAMay 21, 2017
After being employed for just 1 month, the manager that hired me left the company. For some reason, the person that was promoted to that new managerial position, did not like anything about my underwriting.

This underwriter will be honest and state that for the first time in her professional career, I was not able to get along with this person and therefore it was best we parted ways as early as possible.
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They don't pay their people
WHOLESALE ACCOUNT EXECUTIVE (Former Employee) –  Plymouth Meeting, PAMay 15, 2017
To sum it up, I was a top 5 Account Executive in the company and set to go to presidents club and my income was still less than $100k. Comparable companies would have doubled your income if producing at that level.
Pros
Work/Life balance as I worked from home
Cons
Compensation
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Stay away from this employer
Account Manager (Former Employee) –  Concord, CAApril 12, 2017
This employer blows a lot of smoke. They will promise you a lot of things but they are totally mismanaged. I worked there for less than a year and when it got slow they laid off 90 people company wide and 10 people from my location. They open positions to get caught up and as soon as it gets slow they will lay you off.
Their health benefits are very expensive about $350 per month for a single person and it goes up from there. Since they are a mortgage company they don't observe the extra bank holidays such as MLK, Presidents Day, Vetrans Day, Columbus Day. You have to work for 90 days before you can take any sick or vacation time. If you take anytime off during this time it will be unpaid and you open yourself to being fired or terminated. The environment is very mis managed. Upper management and team leads are rarely there for assistance and you have to depend on your teammates to help.

Compensation for a processor, Junior Processor, closer is 45k a year. Some positions come with a bonus and some don't or it's very little. Unless you are desperate for a job or you ran out of unemployment I would look elsewhere. Most other employers pay a lot better and treat employees better
Pros
Close to home
Cons
Management, job security, compensation, benefits
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Great Company
Operations Manager (Former Employee) –  Irving, TXApril 12, 2017
This is a great company to work for with great people. The company seems to be currently going through some transitional things if interested in working for the Dallas location.
Pros
Great People to work with
Cons
Transitional Issues
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Growing company
Post-Closing Manager and Collateral Manager (Former Employee) –  Milwaukee, WIApril 12, 2017
New Penn is a growing company. Working in the Milwaukee, Brown Deer Rd. location was very much a family oriented facility. Upper management was not necessarily willing to listen to all of managements suggestions and I feel that may possibly take them in the wrong direction. I enjoyed working in the mortgage division of this company but sadly my position was eliminated.
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Mortgage originations
no comment (Former Employee) –  Plymouth Meeting, PAMarch 29, 2017
Its not the worst place to work, but not the best either. Mortgage origination is unstable and they are not immune to that fact. If you like mortgage originations, go for it!
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Overall rating

3.5
Based on 77 reviews
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Ratings by category

Work/Life Balance
3.7
Compensation/Benefits
3.1
Job Security/Advancement
2.8
Management
3.2
Culture
3.3