Fitch Ratings has upgraded Planet Home Lending‘s Primary Subprime Servicer rating to RPS2- and its Special Servicer rating to RSS2-. Previously, the ratings were RPS3+ and RSS3+, respectively.
In its review, Fitch highlighted Planet’s risk and compliance management, continually improving performance metrics and effective technology.
Fitch noted additionally:
- Financial strength of Planet Financial Group, parent of Planet Home Lending.
- Comprehensive quality control and three-line defensive risk management framework.
- Enhanced management analytics.
- Refined call center, collection and loss mitigation performance.
- Competitive performance measured against industry benchmarks for cash management, investor reporting, customer experience, escrow administration, home retention and default administration.
Photo by Freepik.
