Location: Plymouth Meeting, PA
Industry: Financial services
BORN IN THE STORM
When New Penn Financial first opened its doors in 2008, the industry it was entering was in crisis. The meltdown of the U.S. housing market proved to be a difficult time for mortgage lenders, and the regulatory environment changed quickly and dramatically. “New Penn Financial was born in the storm of the mortgage industry shift,” says CEO Jerry Schiano. Schiano founded the company with the belief that it could be successful under the new market conditions, as long as it was built correctly. That’s why New Penn Financial has focused on being forward-looking rather than dwelling on the past market volatility. In addition, Schiano says the company is nimble and efficient enough to respond the constantly changing landscape. “As an organization, we focus on getting a little bit better every day,” says Schiano.
Quick Tip: “Opportunity is missed by most people because it is dressed in overalls and looks like work.” Thomas Edison
While New Penn Financial has grown significantly in its eight years in business, Schiano says such growth has a way of exaggerating challenges that every organization faces. High demand pushed New Penn Financial to add talent to its team, and the company learned to strike a balance between hiring, time and resources. Ultimately, New Penn Financial has found continued success and growth by never allowing the feel-good phase of its growth to turn into complacency. That’s why the company will continue to improve its process efficiencies, its technology and its product development.