MERIDEN, Conn. , June 22, 2023 /PRNewswire/ — Planet Home Lending, LLC solidified its position as a Mortgage Servicing Rights (MSRs) investor with a $10 billion bulk acquisition from Village Capital & Investment LLC, Henderson, Nevada.
In the second half of the year, Planet plans to continue acquiring MSRs through bulk and co-issue transactions.
“Planet continues to be a liquidity provider to mid- and smaller-tier issuers,” said Michael Dubeck, CEO and President of Planet Financial Group, parent of Planet Home Lending. “Our robust MSR desk capably handles bulk deals of any size. Sellers like to close transactions with us because we’re transparent, reasonable on terms, and competitively priced.”
The Village portfolio consists of 45,000 home loans securitized by Ginnie Mae. As of June 2023, Planet’s servicing portfolio stood at $94 billion. The acquisition further strengthens Planet’s position in the industry and increases its MSR book by 10.6%.
About Planet Financial Group, LLC
Planet Financial Group, LLC, Meriden, Connecticut, 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 and USDA, as well as a Freddie Mac and Fannie Mae Seller/Servicer, a full Ginnie Mae Issuer and approved sub-servicer 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.
Vice President, Communication
Planet Home Lending
SOURCE Planet Financial Group