Outlook Revised to Positive by S&P Global Ratings
MERIDEN, Conn., May 10, 2023 /PRNewswire/ — Planet Home Lending, a leading mortgage loan primary and special servicer, announced that S&P Global Ratings has affirmed its overall “average” rankings for residential Primary (prime) and Special Servicing. Additionally, S&P Global Ratings revised Planet’s outlook to “positive” from “stable” for both rankings.
Planet remains a leading primary and special servicer for mortgage-based assets. In its review, S&P highlighted significant growth in Planet’s prime portfolio, which has continued to gain volume and momentum from MSR (Mortgage Servicing Rights) acquisitions and private clients.
S&P Global Ratings also noted:
- Quantitative metrics, which reflect competitive performance results compared to peers
- Systems improvements, including enhanced reporting, telephony, and customer service applications
- Monitoring of more contact center calls than peers
- Multiple levels of internal controls
- Good oversight and processes within complaint and vendor management
- Sound default administration processes
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, PFG provides best-in-class experiences for investors pursuing value maximization and borrowers seeking streamlined end-to-end loan lifecycle support. PFG 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. 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, New York, maximizes the value of diverse investor assets through active management. For more information about Planet Management Group, please visit https://planetmanagementgroup.com.
Vice President, Communication
Planet Home Lending
SOURCE Planet Financial Group, LLC