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BBB Accreditation

A BBB Accredited Business since

BBB has determined that New Penn Financial, LLC meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

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New Penn Financial, LLC at its headquarters and all its company-owned locations throughout the United States is a BBB Accredited Business. This means they support BBB's services to the public and meet BBB Accreditation standards everywhere they do business. A BBB Accredited Business since April 30, 2009.

Reason for Rating

BBB rating is based on 16 factors. Get the details about the factors considered.

Factors that raised the rating for New Penn Financial, LLC include:

  • Length of time business has been operating.
  • Complaint volume filed with BBB for business of this size.
  • Response to 49 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.
  • BBB has sufficient background information on this business.


Customer Complaints Summary Read complaint details

49 complaints closed with BBB in last 3 years | 15 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 10
Billing/Collection Issues 3
Delivery Issues 1
Guarantee/Warranty Issues 0
Problems with Product/Service 35
Total Closed Complaints 49

Additional Information

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BBB file opened: April 22, 2009 Business started: 04/01/1996 in PA Business started locally: 04/01/2007 Business incorporated: 04/01/1996 in PA
Licensing, Bonding or Registration

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Department of Banking and Securities-PA
Market Square Plaza, 17 North 2nd St Suite 1300, Harrisburg PA 17101
http://www.banking.state.pa.us
Phone Number: 717-787-1854
Fax Number: 717-787-8773
The license number is 20434.002 Mortgage Lender License PA.

Type of Entity

Limited Liability Company (LLC)

Business Management
Mr. Jerry Schiano, President & CEO
Contact Information
Principal: Mr. Jerry Schiano, President & CEO
Business Category

Mortgage Bankers

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Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.

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BBB Complaint Process

Your complaint will be forwarded to the business within two business days. The business will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the business's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.

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BBB promotes truth in advertising by contacting advertisers whose claims conflict with the BBB Code of Advertising. These claims come to our attention from our internal review of advertising, consumer complaints and competitor challenges. BBB asks advertisers to prove their claims, change ads to make offers more clear to consumers, and remove misleading or deceptive statements.

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What government actions does BBB report on?

BBB reports on known significant government actions involving business' marketplace conduct.

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