New Penn Financial Reviews

Updated June 17, 2015
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3.1
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Recommend to a friend
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Jerry Schiano
34 Ratings

Pros
  • Great work-life balance, managers in cleveland are great (in 4 reviews)

  • Good training program and lots or training support after (in 4 reviews)

Cons
  • mostly all commission, not a lot of room for advancement unless you relocate (in 4 reviews)

  • lack of leadership, bad leads, no room for advancement (in 4 reviews)

More Pros and Cons

50 Employee Reviews

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  1. Helpful (3)

    Loan Processor

    Former Employee - Loan Processor
    Former Employee - Loan Processor

    I worked at New Penn Financial (More than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Efficient process of processing loans. Great teamwork among departments.

    Cons

    Poor communication regarding changes in routine and responsibilities.

    Advice to Management

    Better communication and treat employees equally


  2. Somewhat rewarding

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Mortgage Advisor in Columbia, MD
    Current Employee - Senior Mortgage Advisor in Columbia, MD

    I have been working at New Penn Financial full-time (More than 3 years)

    Recommends
    Negative Outlook
    Approves of CEO
    Recommends
    Negative Outlook
    Approves of CEO

    Pros

    Money is good when the market allows. Laid back environment

    Cons

    Easy to become complacent. Nearly impossible to move out of sales or move up within the sales division

    Advice to Management

    Reduce the 1500/month draw taken out of sales pay check each month or base it on the punt of leads taken. Create avenues for advancement. Stop promoting from the outside. Create incentive and remove the cap on sales commission it kills motivation


  3. Helpful (2)

    Great company to work for

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Consultant in Charlotte, NC
    Former Employee - Mortgage Consultant in Charlotte, NC

    I worked at New Penn Financial full-time (More than a year)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Company has a great leader in Tim running the Charlotte NC branch. His branch is always at the top every quarter within the company. Runs a smooth and efficient branch.

    Cons

    Company had mailer campaign only when I worked for them. Which didn't always go well. Now they do both mail campaigns and internet leads. Much improved lead system

    Advice to Management

    Keep up the great work running outstanding branch. People who currently work within the company still say great things about New Penn.


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  5. Helpful (3)

    Review

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in Plymouth Meeting, PA
    Current Employee - Analyst in Plymouth Meeting, PA

    I have been working at New Penn Financial

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    Pros

    There is a mostly flexible schedule. The company gives out three weeks of paid time off. Management style is not micromanaging most of the time.

    Cons

    They keep salaries low but expectations high. Depending on your department, you're either being worked to death or not being pushed enough.

    Advice to Management

    Listen to your employees when they give you suggestions. Have regular meetings and chats to make sure they're happy where they're at because most of them are not.


  6. Helpful (7)

    Company Unfair to Minorities

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at New Penn Financial full-time

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Their are 18 Vice Presidents at NPF, none African American, Hispanic or Asian. So it's a pro if you are white.

    Cons

    I've worked at New Penn Financial for 3 years and never received a raise. This wasn't do to performance, no one in the company received a raise. This was supposedly due to the harsh months of refinancing and home purchases that the company endured. However, this did not effect the VP's who drove to work in their newly purchased Mercedes Benz, BMW and Jaguars. I've even heard how while there are 0 Black managers at New Penn, they will bring in people from outside the company to manage black employees who have been there for years while they themselves have no experience. I've even heard of an employee who dangled a noose in a black coworkers cubicle, and he was not suspended or fired. All in all, if you are an ambitious white go-getter, New Penn Financial is the place for you. If you are a minority, Do Not work at this place!

    Advice to Management

    Judge your employees on how they work, not how they look or speak. Management made that job impossibly difficult. From snooping through your emails, to calling you out and embarrassing you in front of other coworkers.


  7. Helpful (1)

    Subordination Specialist - Credit Analyst

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Consultant in Plymouth Meeting, PA
    Former Employee - Mortgage Consultant in Plymouth Meeting, PA

    I worked at New Penn Financial full-time (Less than a year)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Great office location, free parking, growing company

    Cons

    Terrible management, lack of upward mobility, there was a big laid off in September 2013

    Advice to Management

    Hire better training managers


  8. Helpful (1)

    Loan officer

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at New Penn Financial

    Pros

    Laid back atmosphere. No micromanagement. Decent training

    Cons

    Low pay. Unequal lead distribution. Limited state licensing

    Advice to Management

    Make it an even playing field for your loan officers


  9. Helpful (1)

    Call center Loan Officer

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Call Center Loan Officer in Concord, CA
    Former Employee - Call Center Loan Officer in Concord, CA

    I worked at New Penn Financial full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    Nice place to work - good management

    Cons

    Marketing platform doesn't support purchase market

    Advice to Management

    Get rid of $1500 marketing fee and raise hourly


  10. great

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Purchase Clearin Analyst in Devon, PA
    Former Employee - Purchase Clearin Analyst in Devon, PA

    I worked at New Penn Financial

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    nice perks working here good

    Cons

    wish there was more incentive promotinos

    Advice to Management

    compensation is okay can be a little more incentives are good


  11. Nice Company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at New Penn Financial

    Approves of CEO
    Approves of CEO

    Pros

    good people, provides you with many leads

    Cons

    mostly all commission, not a lot of room for advancement unless you relocate



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