New Penn Financial Taps Former Bank Executive to Head Financial Services Division

November 2010 - New Penn Financial, LLC, a leading nationwide mortgage lender, today announced the appointment of Bob Wexler as its Vice President of the newly formed Financial Services Division. New Penn's Financial Services Division provides wholesale and correspondent mortgage lending to brokers, banks and credit unions. Reporting to President and Chief Executive Officer, Jerry Schiano, Bob will oversee operations of the Financial Services Division including mortgage originations."Bob's leadership and deep banking experience are important additions to New Penn Financial at this stage of the company's development," said Jerry Schiano. "His business management skills and solid reputation in the banking community will build on our track record of responsible lending as we position the company for future growth."

Prior to joining New Penn Financial, Mr. Wexler served as Executive Vice President of Public Savings Bank. Mr. Wexler also served as the Executive Vice President of Allied Mortgage Group, where he held various strategic management roles and helped the company expand its Wholesale Lending division. His background also includes mortgage origination roles at First Union Corporation and First Virginia Bank.

Despite the downturn in financial services, New Penn Financial continues to grow year over year based on the strength of its people, mortgage lending expertise, and an unwavering commitment to responsible lending practices.

"It's exciting to be part of an organization with such a firm commitment to growing the business. In today's market, you need a solid balance sheet and a clear strategy to differentiate yourself from the pack. We will be providing a platform of mortgage products and technology to our wholesale and correspondent partners that will enable them to service their customers in an entirely new way," said Bob Wexler.