Planet Home Lending Servicing Recognized As 2023 Fannie Mae STAR Performer
Planet Home Lending was recognized in the General Servicing and Solution Delivery categories, one of 32 servicers recognized across all categories.
MERIDEN, Conn., Feb. 21, 2024 /PRNewswire/ -- Planet Home Lending, LLC, a national lender and servicer, has earned Fannie Mae's 2023 Servicer Total Achievement and Rewards™ (STAR™) Program recognition, which acknowledges mortgage servicers for effective, standardized processes that drive performance and operational success. Planet Home Lending was recognized in the General Servicing and Solution Delivery categories, one of 32 servicers recognized across all categories.
"We are thrilled to receive dual honors in General Servicing and Solution Delivery, a prestigious recognition across both categories that only seven companies, including ours, achieved this year," said Sandra Jarish, President of Planet Home Lending. "These accolades reflect our team's unwavering dedication and meticulous approach, ensuring every aspect of our servicing exceeds the expectations of our customers, investors and private clients, all within the framework of the highest industry standards."
The award comes in a year when Planet Home Lending saw significant growth in its portfolio, which surged to $104.69 billion, up 42% from $73.64 billion in December 2022. The company's overall sub-servicing portfolio also grew significantly, ending the year up 68%.
Since 2011, Fannie Mae's STAR program has provided consistent, specific and measurable feedback to servicers, aligned servicer performance with Fannie Mae's business goals and promoted servicing knowledge and excellence across the housing industry. The program's participants are evaluated annually across three categories: General Servicing, Solution Delivery and Timeline Management through the Servicer Capability Framework and STAR Performance Scorecard.
"Our servicing partners' success is essential to achieving Fannie Mae's goal of preserving homeownership and maintaining the safety and soundness of our business," said Cyndi Danko, Senior Vice President and Single-Family Chief Credit Officer, Fannie Mae. "We're proud to recognize our top-performing STAR Program servicers and their commitment to ensuring operational excellence, reducing credit loss, and continuously improving the overall homebuyer experience."
Planet Home Lending's achievement reflects its broader mission to transform servicing through a blend of technology, personalized support, and a focus on building lasting relationships. "At Planet Loan Servicing, we see servicing as a comprehensive, supportive journey, ensuring our clients feel valued and understood at every step," Jarish concluded.
Planet Home Lending approaches servicing as more than an avenue for payment. Jarish added: "It's a multi-dimensional relationship that includes education, support and constant communication."
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.
Press Contact:
Dona DeZube
Vice President, Communications
Planet Home Lending, LLC
[email protected]
(443) 263-2832
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SOURCE Planet Home Lending, LLC
