Planet Expands Servicing Portfolio With $10 Billion MSR Acquisition
Planet Home Lending, LLC solidified its position as a Mortgage Servicing Rights (MSRs) investor with a $10 billion bulk acquisition from Village Capital & Investment LLC, Henderson, Nevada.
In the second half of the year, Planet plans to continue acquiring MSRs through bulk and co-issue transactions.
“Planet continues to be a liquidity provider to mid- and smaller-tier issuers,” said 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%.
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