Planet Expands Platform With Non-Agency Offerings
Planet, a specialty finance company focused on the servicing and origination of mortgage loans, has expanded its product offering to include Non-Agency lending.
The Non-Agency capabilities support a wide range of lending strategies, including a full suite of Non-QM/Alternative Income products and Debt Service Coverage Ratio mortgages.
Planet introduced a Non-Agency correspondent offering as a pilot at year-end and has seen significant adoption from its nearly 800 lending partners. The platform is designed to support delegated and non-delegated delivery, mandatory and best efforts execution, bulk delivery and forward agreements.
“In today’s market, sellers are prioritizing counterparties that offer the full range of correspondent delivery options consistently across cycles,” said Planet CEO Michael Dubeck. “That aligns well with our multichannel, multiproduct model.”
Planet combines Non-Agency underwriting expertise, execution flexibility and servicing insight across the loan lifecycle. The company has established a dedicated Non-Agency underwriting team comprised of experienced specialists focused exclusively on Non-Agency loans, supporting a more consultative approach for borrowers and lending partners navigating complex income profiles and loan scenarios.
“Our expanded product offering demonstrates Planet’s ability to provide optionality and versatile solutions for clients and borrowers across Agency and Non-Agency products at all stages of life and across the credit spectrum,” Dubeck said. “We also have the flexibility to purchase loans underwritten to sellers’ guidelines across multiple delivery methods, giving lenders more execution options as they scale their Non-Agency businesses.”
Planet’s Non-Agency platform is led by Executive Vice President of Non-Agency Lending Ken Torre and Senior Vice President of Non-Agency Lending Tim Fisher, who bring decades of industry experience across Non-Agency origination, underwriting, capital markets and execution strategy.
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