Ratings Raised to RPS2- and RSS2-
MERIDEN, Conn., July 11, 2023 /PRNewswire/ — Planet Home Lending, LLC, a leading mortgage loan primary and special servicer, announced that Fitch Ratings has upgraded Planet Home Lending’s Primary Subprime Servicer rating to RPS2- and its Special Servicer rating to RSS2-. Previously, the ratings were RPS3+ and RSS3+.
In its review, Fitch highlighted Planet’s risk and compliance management, continually improving performance metrics, and effective technology.
Fitch also noted:
- Financial strength of Planet Financial Group, Planet Home Lending’s parent
- Comprehensive quality control and three-line defensive risk management framework
- Enhanced management analytics
- Refined call center, collection, and loss mitigation performance
- Competitive performance measured against industry benchmarks for cash management, investor reporting, customer experience, escrow administration, home retention and default administration
About Planet Financial Group, LLC
Planet Financial Group, LLC, Meriden, Conn., is a fully integrated family of companies delivering innovative origination, servicing and asset management solutions. Through this synergistic ecosystem of products, services and technologies, Planet Financial Group provides best-in-class experiences for investors pursuing value maximization and borrowers seeking streamlined end-to-end loan lifecycle support. Planet Financial Group is the parent of Planet Home Lending, LLC and Planet Management Group, LLC, which also does business under the name Planet Renovation Capital.
About Planet Home Lending, LLC
Planet Home Lending, LLC, Meriden, Connecticut, (NMLS #17022) is an approved originator and servicer for FHA, VA, USDA, Freddie Mac and Fannie Mae and a Standard & Poor’s Global Ratings- and Fitch Ratings-rated special and prime residential servicer. Planet Home Lending, LLC has been assigned a corporate family rating by Moody’s Investors Service viewable at www.moodys.com. Its correspondent division offers a full suite of government, agency and niche home loans. Planet Home Lending, LLC is also a special servicer managing diverse investor portfolios. Its customized servicing solutions maximize asset recovery and optimize performance through active management at the portfolio and loan levels. Planet Home Lending, LLC is an Equal Housing Lender. For more information about Planet Home Lending, LLC, please visit https://planethomelending.com. For more information about Planet Home Lending’s Correspondent offerings, please visit https://phlcorrespondent.com.
About Planet Management Group, LLC
Planet Management Group, LLC, Melville, N.Y., maximizes the value of diverse investor assets through active management. For more information about Planet Management Group, LLC please visit https://planetmanagementgroup.com.
Vice President, Communication
Planet Home Lending
SOURCE Planet Financial Group