Planet Home Lending, a national lender and servicer, welcomes Jim Bopp as vice president of national renovation lending. With more than 25 years in the financial industry, Bopp will manage Planet’s retail and correspondent renovation loan programs, including FHA 203(k), VA Alterations and conventional loan offerings.
“Jim’s experience and vast knowledge of renovation finance and the industry will take Planet’s renovation offerings to the next level,” said Michael Dubeck, CEO and President of Planet Financial Group, parent of Planet Home Lending, LLC. “With the current market conditions of low inventory and the lack of entry-level turnkey homes, more consumers, including first-time homebuyers, will consider homes that might need renovations. We’re positioned to efficiently deliver those loan products to meet this growing demand.”
Before joining Planet Home, Bopp spent more than seven years at Platinum Home Mortgage Corp. In addition, he has specialized in renovation lending at other institutions, including Community Bank, N.A., Irwin Mortgage, Fleet Mortgage and M&T Mortgage Corporation.
Bopp is an active Mortgage Bankers Association member, has won MBA’s Burton C. Wood Award, helped start the New York MBA, sits on the national trade association’s FHA Committee, and leads its FHA 203(k) working group.
Bopp was impressed with the commitment Planet Home has to growing its renovation business. Through training on renovation lending and customer retention, his goal is to help the company take advantage of current market opportunities.
“The home improvement industry itself is a $330 billion a year industry, according to Harvard’s Joint Center for Housing Studies,” he shared. “Planet is well positioned to capture our share of the renovation loan market.”