Planet Home Lending, LLC, a national lender and servicer, has named John Bosley as President, Mortgage Lending. Bosley, who has two decades of industry experience, will lead the company’s Origination, Fulfillment, Correspondent and Capital Markets divisions.
“John is widely regarded in the industry for his ability to maximize value across the full mortgage transaction, including securitization. He delivers market-best pricing for our consumer-direct originators and has built processes and uncovered efficiencies to support volume growth for all of our origination channels,” said Michael Dubeck, CEO and President of Planet Financial Group, LLC, parent company of Planet Home Lending.
Bosley joined Planet Home Lending in 2012 and was quickly promoted to Vice President, Capital Markets. He was promoted to Executive Vice President, Capital Markets and Correspondent Lending in 2018. Under his leadership, Correspondent volume increased 70% to $6 billion in 2019 and 133% to $14.4 billion in 2020. Today, Planet Home Lending is the fifth-largest government Correspondent lender and it is on track to reach an estimated $27 billion in annual volume.
Taking a lesson from his successes in Correspondent, Bosley created a focused organizational effort and put in place efficient resources for the direct-lending space during the COVID-crisis. Retention recapture rates rose, volume doubled, and costs fell by almost 40%.
Bosley also led MSR and Co-Issue analysis and acquisition efforts to support Planet Home Lending’s servicing portfolio growth to $38.5 billion and the near tripling of its assets under management in Q1 2021.
“John and I have collaborated successfully for nearly a decade. I’m confident he is the right person to lead and elevate Planet’s Mortgage Lending division,” said Sandra Jarish, Planet Home Lending President, Servicing. “My division is scaled for anticipated growth. I know John will quickly bring in the home loan volume and mortgage servicing rights to take advantage of that capacity.”
“I believe in bringing people together, hearing their concerns, and finding a plan forward,” Bosley said. “To deliver exceptional customer experience to borrowers and clients, and best-in-class support for sales, Planet must balance the needs of borrowers, correspondent sellers, agencies, capital markets investors, mortgage servicing rights holders, and agencies.”
Before joining Planet Home Lending, Bosley worked for a national retail lender. He was named to HousingWire’s Rising Stars list in 2020. Bosley has a Master of Science in Finance, a Bachelor of Science in Business Information, and is a certified public accountant.