Planet Financial Group has launched a loan servicing division targeting the commercial lending market. The commercial servicing division will be co-led by James DePalma and Janina Woods.

The expansion, which follows the company’s significant portfolio growth, is a response to client demand. Planet aims to be the preferred partner for investors seeking comprehensive portfolio solutions.

The division will offer automated payment processing, financial tracking, investor reporting, collateral tracking, delinquency and collection management, and more.

Planet has been managing commercial assets since 2007. They serve private and institutional investors, government entities, and commercial originators.

Moody’s Analytics recently reported that US commercial real estate prices fell for the first time since 2011.

“Lots more price declines are coming,” said Moody’s Analytics Chief Economist Mark Zandi.

Although the drop was less than 1% in Q1 2022, experts view this as a sign of financial stress in the banking industry.

Banks hold over 60% of the $3.6 trillion in commercial real estate loans outstanding, according to the Federal Reserve. The Fed warns that a correction in property values could lead to credit losses at banks.

The Mortgage Bankers Association expects commercial and multifamily mortgage transactions to fall to $654 billion this year. That’s a 20% drop from $816 billion in 2022.

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