New Penn Financial Sponsors Philadelphia Bike Race

February 5, 2013

PLYMOUTH MEETING, PA - National mortgage lender New Penn Financial, LLC today announced its sponsorship of the Philly Cycling Classic to be held June 2, 2013.

New Penn, headquartered in Plymouth Meeting, Pennsylvania, was the first to commit to financial sponsorship. The company offered its support when new organizers, led by Congressman Robert A. Brady, took action to establish a race to replace the annual Philadelphia International Cycling Championship, which was cancelled in January.

The new race course - which winds through city streets, including a steep "wall" in the Manayunk neighborhood - will be shorter and faster than its predecessor's 124-mile course, and has been designed to put spectators close to the action.

Jerry Schiano, New Penn Financial CEO, said, "We're thrilled to help champion this race. Cities across the country establish signature events, like the Boston Marathon, that boost the cities' visibility and reputation and bring in business. The Philly Cycling Classic can have a continuing impact on Philadelphia and is very worthy of our support."

New Penn Financial's race sponsorship is part of the company's commitment to the Philadelphia area. The rapidly growing mortgage lender currently employs nearly 1,200 nationally and over 300 in the Greater Philadelphia area, and continues to hire and contribute to the local economy.

"We not only want to build a great Philly-based company, but we also want to make a real difference in the communities where we live," said Jeff Frutkin, Vice President of Marketing at New Penn Financial.

New Penn has grown rapidly by offering consumers some of the lowest mortgage rates available on refinance and new home loans, while also providing exceptional service and a wide selection of loan programs.

About New Penn Financial

New Penn Financial has become a leading nationwide lender by bringing expertise, extremely competitive rates on a broad portfolio of mortgage products, and exceptional customer service under one roof. Founded in 2008, and licensed in 46 states, the company and its reputation have grown rapidly under the guidance of a management team with years of experience in the mortgage industry. New Penn is headquartered in Plymouth Meeting, Pennsylvania and operates over 30 branch offices nationwide. New Penn was recognized by INC. Magazine in 2012 as one of the 500 fastest-growing private companies in the U.S. New Penn is a Shellpoint Partners company. Shellpoint is a well-capitalized specialty finance company led by a veteran management team.