Planet Home Lending Servicing Recognized as 2021 Fannie Mae STAR Performer
Mar 23, 2022, 08:36 ET
MERIDEN, Conn., March 23, 2022 /PRNewswire/ -- Planet Home Lending, LLC, a national lender and servicer, has earned Fannie Mae's 2021 Servicer Total Achievement and Rewards™ (STAR™) Program recognition, which acknowledges mortgage servicers for their effective, standardized processes that help drive their performance and operational success. Planet Home Lending was recognized in the General Servicing and Solution Delivery categories, and one of 29 servicers named a 2021 Fannie Mae STAR recipient.
"Our team earned dual accolades in General Servicing and Solution Delivery, an accomplishment shared with only 10 of our peers across the industry," said Planet Home Lending President Sandra Jarish. "I want to thank our employees for their dedication and hard work in prioritizing a superior end-to-end experience for our customers, investors, and private clients. I am proud of the recognition we have earned from Fannie Mae."
Planet Home Lending earned the recognition for its work during a year in which its portfolio significantly expanded, rising to $49.7 billion at year-end 2021, up 51% from $33.0 billion at year-end 2020. Total units rose to approximately 211,000, increasing 39% from approximately 152,000 at year-end 2020. The company's overall third-party sub-servicing portfolio also grew significantly during 2021. It ended the year with approximately 37,000 active assets valued at just over $10 billion, including interim serviced loans.
Since 2011, Fannie Mae's STAR program has provided consistent, specific, and measurable feedback to servicers, aligned servicer performance with Fannie Mae's business goals and promoted servicing knowledge and excellence across the housing industry. The program's participants are evaluated annually across three categories: General Servicing, Solution Delivery, and Timeline Management through the Servicer Capability Framework and STAR Performance Scorecard.
"We're proud of the 2021 STAR Program recipients, and their dedicated efforts to support and facilitate equitable and sustainable access to homeownership," said Cyndi Danko, Senior Vice President and Single-Family Chief Credit Officer, Fannie Mae. "Whether helping homeowners emerge from forbearance or providing the resources needed to refinance their loan, these 2021 STAR Program recipients demonstrated their commitment to improving the homeownership journey."
Planet Home Lending approaches servicing as more than an avenue for payment. Jarish added: "It's a multi-dimensional relationship that includes education, support and constant communication."
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.
SOURCE Planet Home Lending
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