Born in 2007 to take advantage of disintermediation in the wake of the real estate crisis, Planet Home Lending began as a mortgage servicer when private-equity fund MHR recognized an opportunity to create value by purchasing and servicing residential mortgage assets.
In 2013, the company parlayed its stellar record as an agency default servicer to gain Ginnie Mae authority and opened a retail retention origination unit. Today, Planet Home Lending remains one of the only servicers to be granted Ginnie Mae authority before formally entering the residential mortgage originations business. Planet gained Fannie Mae and Freddie Mac approvals the following year.
By 2017, the growing proficiency of the $12 billion servicing operation allowed the company to create a dedicated private client asset management unit focused on the management of NPL and RPL portfolios for investors, now known as Planet Management Group.
