Princeton Mortgage Launches Princeton Mortgage Wholesale

PENNINGTON, N.J., Oct. 19, 2017 /PRNewswire/ -- Princeton Mortgage, a full-service residential mortgage banker, has launched a new Wholesale division, Princeton Mortgage Wholesale. Princeton Mortgage Wholesale is expected to begin doing business in October 2017.

Princeton Mortgage Wholesale, led by rising star, Matthew Joy, will be headquartered in Pittsburgh, PA and will initially originate and market its mortgage lending services to mortgage brokers in Colorado, New Jersey and Pennsylvania. Near term expansion to other states include: Delaware, Florida, Georgia, Maryland and Virginia to start.

Matthew (Matt) Joy, Director, National Wholesale Lending for Princeton Mortgage Wholesale, brings a fresh and exciting spirit to creating the "effortless" experience for customers. Matt has been driving the workflows and processes to streamline the broker and customer interaction. "I am so excited to be launching Princeton Mortgage Wholesale. The operations team in Pittsburgh and in New Jersey are completely dedicated to improving all those issues I always wanted to solve. We've taken a deep dive to improve the customer experience. This is an amazing culture."

"This is a great opportunity for us to accelerate our growth on a national level by bringing our cutting-edge technology together with the demands of the wholesale marketplace," said Richard A. Weidel, III, CEO of Princeton Mortgage. "We want this to be a place where people work for what they want, and that's proving to be attractive to the best talent."  

"We are pleased that the continuing tech improvements to our operating platform have allowed for this new division. This expansion represents the best opportunity to maximize the value of what we have built over that past 34+ years, soundly and with the integrity we bring to each and every mortgage transaction," said Jim Guggenheim, Executive Vice President of Princeton Mortgage.

Princeton Mortgage was founded in 1983 as a licensed mortgage banker and is backed by a 100-year old multi-faceted real estate services organization.

Q&A with Matt Joy, Director of National Sales, Princeton Mortgage Wholesale

Q:  Princeton Mortgage Wholesale is going up against some entrenched players in the industry? How do you plan to compete?

A:  Everyone says that their service and turn times are superior. So certainly, we already know that we can easily complete on those terms. But we also know that it is easy for the broker to get lost in the shuffle of mortgage processing and we have put in stop-gaps to ensure that the broker not only knows where he/she is in the process, but that there is a single point of contact throughout. 

Q. You mean I can't speak to underwriting if there is a condition issue on the loan?

A. Well, you can speak to anyone, including the Executive Vice President of the Company. We've also integrated some cool technology that directly connects the broker to the underwriter in a seamless, scheduled fashion.

Q: You use the phrase "effortless experience" a lot, what does that mean?

A: A lot of companies focus on exceeding customer expectations or "delighting" the customer. We are students of the theory that customer loyalty comes from the ease in which it is to do business with us.  For example, if a customer has to call customer service and has a "wonky" interaction, it's going to be pretty hard to win back that customer, ever.  We'd rather create an environment where the customer never should make that call. That's what we call the "effortless experience."

Q. You and your team don't exactly have the look of the Pin-Striped Mortgage Banker?

A: We don't keep typical mortgage banker hours eithers.  The average age of the team in Pittsburgh is 29 years old.  We have suits and ties, but in the office we wear what we wear. We're hyper-focused on what we're doing not on what we're wearing. We were brought up doing our homework on computers. We're tech savvy, we're super entrepreneurial and we know good customer service when we see it. To us, if you're not doing that, a suit and tie are not going to help achieve those goals.

Q: What can we expect from Princeton Mortgage Wholesale in 2018?

A: A whole lot of very happy mortgage brokers! We have a few programs that are proprietary that we will begin rolling out to a few Mortgage Brokers, initially, that are aligned with our notion of the effortless experience. Our goal is to improve the broker's business and increase the "stickiness" in our relationship to build customer loyalty.  Go Steelers!

Contact: Blanche Brann
609-737-1522 ext 205
[email protected]

SOURCE Princeton Mortgage

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