Fitch Asssigns and Upgrades Planet Home Lending's Primary, Subservicer, and Special Servicer Rankings

Ratings Raised to RPS2 and RSS2

MERIDEN, CT, UNITED STATES, January 13, 2025 /EINPresswire.com/ -- Planet Financial Group, a fully integrated family of companies delivering innovative origination, servicing and asset management solutions, announced Fitch Ratings has assigned Planet Home Lending a Primary Prime Residential rating of RPS2, and upgraded the company’s Special Servicer and Subprime Servicer ratings to RPS2. Planet’s rating outlook is Stable.

In its review, Fitch highlighted Planet’s strong risk and compliance management, experienced leadership, and technology investment.

Fitch also noted Planet’s:

Diverse loan servicing portfolio, including non-agency special servicing

Recapture rate of more than three times the industry average rate

Special servicing expertise managing distressed assets using detailed metrics and tailored performance reporting

Multitiered disaster recovery plans with regional redundancy and extended operations

On Oct. 3, 2024, Fitch assigned to Planet Home Lending a U.S. Primary Prime Residential Servicer rating of RPS2. It also upgraded Planet Home Lending’s U.S. Primary Subprime Servicer rating to RPS2 from RPS2- and its U.S. Special Servicer rating to RSS2 from RSS2-.

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, Planet Financial Group provides best-in-class experiences for investors pursuing value maximization and borrowers seeking streamlined end-to-end loan lifecycle support. Planet Financial Group 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 originator, correspondent lender, rated servicer and sub-servicer of agency and non-agency residential and commercial mortgages. As an Equal Housing Lender, Planet improves the lives of borrowers by delivering a streamlined lending experience to help individuals and families thrive throughout their journey home. For more information about Planet Home Lending, please visit https://planethomelending.com or https://phlcorrespondent.com

About Planet Management Group, LLC

Planet Management Group, LLC, Rochester, New York, (NMLS # 2436134) maximizes the value of diverse investor assets through active management. For more information about Planet Management Group, please visit https://planetmanagementgroup.com.

Dona DeZube
Planet Home Lending, LLC
+1 443-263-2832
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