Planet Financial Group, LLC, parent of national mortgage lender and servicer Planet Home Lending, LLC and Planet Management Group, LLC, gained market share in the second quarter in mortgage originations, servicing and asset management despite challenging market conditions, the company reported.
Planet Home Lending’s total origination volume was $6.43 billion for Q2 2022, up 6.5% from Q1 2022. In June, the Correspondent division ranked #6 in overall volume and the company closed its acquisition of certain assets of Home Point Financial Corporation’s (Homepoint) correspondent division.
During the second quarter, Planet’s mortgage servicing portfolio rose to nearly $60 billion, up 8% from Q1, while posting historic low delinquency rates including more than $13 billion in assets managed by Planet Management Group.
The company also donated $100,000 to the National Forest Foundation (NFF) and $100,000 to The Farmlink Project as part of its social responsibility platform, Planet With a Purpose.
“Planet’s financial stability, operational efficiency and superior servicing and asset management platforms allowed us to take advantage of opportunities to capture market share,” said Planet Financial Group CEO and President Michael Dubeck. “We’re purpose-built to effectively originate and service debt and mortgages in all market cycles.”