Planet Financial Group, LLC Shows Record Growth in Creation and Services in 2020

TAMPA, Florida, February 2, 2021 / PRNewswire / – In 2020, Planet Financial Group, LLC, parent company of the lender and national mortgage manager Planet Home Lending, LLC and Planet Management Group, LLC, have remained well capitalized in the face of industry turmoil, excelling during the most difficult mortgage market downturn since the mid-2000s. Its subsidiaries experienced record growth, more than doubling the total origination volume and almost double the service portfolio.

Planet Home Lending’s total origination volume reached $ 19.5 billion in 2020, up 122% compared to $ 8.8 billion in 2019. The volume of correspondents reached a record $ 14.4 billion, an increase of 133% compared to the previous year $ 6.2 billion. The customer base of the company’s correspondent lenders grew 73% in 2020. Planet Home Lending is now the government’s 5th largest correspondent lender and 12th overall.

Planet Home Lending’s service portfolio has grown to $ 33 billion, up 83% compared to 2019 $ 18 billion period. The total number of units increased to 154,000, a 50% year-over-year increase from 103,000 units in 2019. The average loan size in the portfolio increased to $ 214,889 in 2020, against $ 185,129 in the period of one year ago.

Origins of increased retention at $ 2.3 billion in 2020, more than double that of 2019 $ 1.1 billion in the origins. The division recovered 43% of voluntary prepayments from borrowers, one of the best in the industry. The retail channel is born $ 2.7 billion of mortgage loans in 2020, up 108% compared to $ 1.3 billion in 2019.

Planet Management Group, the sub-service subsidiary of Planet Financial Group focused on private clients, added clients in non-QM and Residential Transition Loan (RTL) spaces and secured additional government service monitoring contracts in 2020. The methodology continued to attract complex portfolios benefiting from sophisticated management.

In 2020, Planet Management Group added a portfolio volume of 8,010 units with an unpaid capital balance of $ 3 billion, resolving over 1,000 delinquencies and effectively managing the volatility of private clients’ portfolios. He ended the year with 9,279 active assets valued at $ 1.9 billion. Since its creation in 2014, Planet Management Group has managed 23,381 units valued at $ 6.3 billion.

“The expertise of the people within the Planet Financial Group family of companies has driven our accomplishments in recent years, culminating with new heights for 2020,” said the CEO and President of Planet Financial Group. Michel dubeck. “We have significantly increased our market share by providing certainty to customers and consumers during historically volatile market periods last year and will continue to do so in 2021.”

About Planet Financial Group, LLC

Planet Financial Group, LLC, Tampa, Florida, is the parent company of Planet Home Lending, LLC and Planet Management Group, LLC, which also operates as Planet Renovation Capital.

About Planet Home Lending, LLC

Planet Home Lending, LLC, Meriden, Connecticut., is an FHA, VA, and USDA Approved Originator and Repairer, as well as Freddie Mac and Fannie Mae Seller / Repairer, Ginnie Mae Full Transmitter and Subcontractor, and Special and Notified by Standard & Poor’s and Fitch. first residential service. Its corresponding division offers a full range of government, agency and niche real estate loans. Planet Home Lending, LLC is also a special service managing various investor portfolios. Its customized service solutions maximize asset recovery and optimize performance through active portfolio and loan management. Planet Home Lending, LLC is an Equal Opportunity Lender. For more information on Planet Home Lending, LLC, please visit https://PlanetHomeLending.com.

About Planet Management Group, LLC

Planet Management Group, LLC, Rochester, NY, maximizes the value of various investor assets through active portfolio and loan level management. For more information on Planet Management Group, please visit https://PlanetManagementGroup.com.

hurry Contacts:




Dona DeZube

Charlyne H. McWilliams

Vice-President, Communications

Media contact

Planet Home Lending, LLC

for Planet Home Lending, LLC

[email protected]

[email protected]

(410) 263-2832

(301) 933-5567

SOURCE Planet Financial Group, LLC

Related links

https://planetmanagementgroup.com/

Source link

About Jimmie T.

Check Also

Inmates Eligible for Care Act $ 1,200 IRS Stimulus Checks; Here is how to deposit

2 million inmates are eligible for stimulus checks of $ 1,200. They must check the …