Planet Home Lending LLC continues to consolidate its position as a mortgage servicing rights (MSRs) investor. Its recent $10 billion bulk acquisition from Village Capital & Investment LLC, Henderson, Nev., has expanded its servicing portfolio once again.
“Planet continues to be a liquidity provider to mid- and smaller-tier issuers,” says Michael Dubeck, CEO and president of Planet Financial Group, parent of Planet Home Lending. “Our robust MSR desk capably handles bulk deals of any size. Sellers like to close transactions with us because we’re transparent, reasonable on terms and competitively priced.”
The Village portfolio consists of 45,000 home loans securitized by Ginnie Mae. As of June 2023, Planet’s servicing portfolio stood at $94 billion. The acquisition further strengthens Planet’s position in the industry and increases its MSR book by 10.6%.
Planet plans to keep on acquiring MSRs through bulk and co-issue transactions in the second half of the year.
Photo by Tierra Mallorca on Unsplash.
