Planet Home Lending, a mortgage lender and servicer, says S&P Global Ratings has affirmed its overall “average” rankings for residential primary (prime) and special servicing.
Additionally, S&P Global Ratings revised Planet’s outlook to “positive” from “stable” for both rankings.
In its review, S&P highlighted significant growth in Planet’s prime portfolio, which has continued to gain volume and momentum from mortgage servicing rights acquisitions and private clients.
S&P Global Ratings also noted systems improvements, monitoring of more contact center calls than peers, multiple levels of internal controls, good oversight and processes within complaint and vendor management, and sound default administration processes.
