Planet Home Lending hires Doug Long to expand its retail branch network 

Key Takeaways:

– Planet Home Lending hires Doug Long as senior vice president and divisional sales manager
– Long brings over 20 years of experience in the mortgage industry
– He will focus on building Planet’s retail networks and product development
– Planet offers innovative products like Cash 4 Homes, 1st Year Flex, and one-time close construction loans
– Long was previously with Union Home Mortgage and AmeriFirst Home Mortgage
– Planet Home Lending is the 12th-largest mortgage lender with an origination volume of $25 billion in 2023
– The company focuses on acquisitions in both correspondent and retail channels
– Planet Home Lending acquired Homepoint’s delegated correspondent business in 2022 and Platinum Home Mortgage Corporation in June 2023
– The company has 175 sponsored mortgage loan originators in 35 active branches across the country

HousingWire:

Connecticut-headquartered mortgage servicer and lender Planet Home Lending has hired Doug Long as senior vice president and divisional sales manager. 

Long, who brings more than 20 years of experience in the mortgage industry, will be responsible for building Planet’s retail networks and will also have a focus on product development, the company said.

“Planet is pioneering the future of mortgage lending with novel products like Cash 4 Homes, 1st Year Flex, Purchase EDGE, one-time close construction loans, and bridge, renovation and manufactured home loans,” Long said. 

“What sets us apart is not just these products, but how we come together, across different channels, to continuously innovate and refine them. This synergy allows Planet to offer unparalleled operational support to its sales professionals, along with no hidden overlays and some of the industry’s best turn times.”

Long was most recently the executive regional manager for Union Home Mortgage before joining Planet. 

His previous positions include southeast divisional president at AmeriFirst Home Mortgage, which was acquired by Union Home Mortgage in December 2022; and president of national lending at Prospect Mortgage.

As the 12th-largest mortgage lender, Planet Home Lending posted an origination volume of $25 billion in 2023, a 5.3% decline from 2022, according to Inside Mortgage Finance. America’s top 50 lenders saw an average origination volume decline of about 41% in 2023. Its strategy has focused on acquisitions in both correspondent and retail channels.

The company’s acquisition of Homepoint‘s delegated correspondent business in 2022 boosted its correspondent market share, with about 70% of its origination coming from the correspondent channel.

In June 2023, Planet Home Lending acquired Platinum Home Mortgage Corporation, bringing over 20 branches.

Planet Home Lending has 175 sponsored mortgage loan originators in 35 active branches across the country, according to the Nationwide Multistate Licensing System.

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Property Chomp’s Take:

is a versatile and powerful element in HTML that is used to create divisions or sections on a webpage. It allows developers to group together and style different parts of a webpage, making it easier to organize and structure content.

In the world of mortgage lending, Planet Home Lending has recently made a significant hire by bringing on Doug Long as senior vice president and divisional sales manager. With over 20 years of experience in the industry, Long will play a key role in building Planet’s retail networks and focusing on product development.

Long expressed his excitement about joining Planet Home Lending and highlighted the company’s innovative products such as Cash 4 Homes, 1st Year Flex, Purchase EDGE, and various loan options. He emphasized the collaborative nature of the company, which allows for continuous innovation and exceptional operational support for sales professionals.

Prior to joining Planet, Long held leadership positions at Union Home Mortgage and AmeriFirst Home Mortgage, showcasing his expertise and track record in the mortgage industry. Planet Home Lending, as the 12th-largest mortgage lender, has seen steady growth and success in a challenging market, with a strategic focus on acquisitions and expanding its market share.

One notable acquisition by Planet Home Lending was the delegated correspondent business of Homepoint, which significantly boosted its presence in the correspondent channel. Additionally, the acquisition of Platinum Home Mortgage Corporation further expanded Planet’s footprint with over 20 branches nationwide.

With 175 sponsored mortgage loan originators in 35 active branches across the country, Planet Home Lending continues to solidify its position as a leading player in the mortgage industry. The use of

elements on their website helps in organizing and presenting information in a clear and effective manner, reflecting the company’s commitment to innovation and excellence in mortgage lending.

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