Planet Home Lending Celebrates Several Milestones

MERIDEN, Conn., June 4, 2019 /PRNewswire/ -- Since the beginning of the year, Planet Home Lending, LLC (PHL), a national mortgage lender and servicer, has opened a dozen branches, launched several new loan products, posted a net promoter score of 95.6 percent and received an increase in its servicer rating from Fitch Ratings.

Planet Home Lending's new branches are in Modesto, Calif.; Chicago, Virginia Beach, Va.; Albuquerque and Las Cruses, N.M., San Antonio and McAllen, Texas; Annapolis, Md.; Cincinnati, Augusta, Ga.; Nashville, Tenn. and Indianapolis.

"Expanding our footprint through our distributed retail offices demonstrates our commitment to ensure more consumers have access to quality home financing," said Michael Dubeck, CEO and president of PHL parent Planet Financial Group. "We plan to continue our efforts to serve as many communities as we can."

Planet Home Lending enjoyed several other successes during the first part of this year. The company: 

• Expanded its non-QM product line by adding additional bank statement, asset depletion, single-family investor, mixed use and post-bankruptcy/foreclosure programs
• Now offers purchase and refinance VA home renovation loans
• Received an upgraded rating from Fitch Ratings for its servicing efforts and a Stable Outlook forecast
• Achieved a Net Promoter Score (NPS) of 95.85. The score measures the willingness of a customer to recommend a product or service to others and ranges from -100 to 100 and the average NPS in banking is 44¹
• Opened a new Regional Operation Center for Planet Home Lending and a Western Regional Office for Planet Management Group, the company's sub-servicer affiliate, in Texas

The company also enjoyed solid performance from its customer retention and correspondent channels.

"We continue to ensure that our infrastructure – including everything from operations to technology – is built on a solid foundation to successfully support and grow all of our channels," Dubeck said. "We have a strong servicing channel that is experiencing great ratings. Additionally, Planet Home Lending continues to gain productive distributed retail branches because of the level of success we have based on the variety of loan products and corporate support we offer."

About Planet Home Lending, LLC

Founded in 2007, Planet Home Lending is a privately held, national residential mortgage lender with multiple business channels uniquely positioned to provide competitive products and services. The company 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-and Fitch-rated special and prime residential servicer. Planet Home Lending, LLC is an Equal Opportunity Lender. For more information about Planet Home Lending, please visit https://planethomelending.com.

1 Source: NPSbenchmarks.com

SOURCE Planet Home Lending

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https://planethomelending.com