Lending reports

Planet Home Lending Reports Q3 Gains in Asset Management, Maintenance and Assemblies – NMP

Planet Home Lending’s total origination volume reached $ 7.2 billion in the third quarter of 2021, up 31% from $ 5.5 billion in the third quarter of 2020. Planet Home Lending’s service portfolio ended the third quarter at $ 45 billion, up 36% from $ 33 billion at the end of 2020. The total number of units rose to around 196,000, an increase of 29% from around 152 000 at the end of 2020, the company said.

The average loan size of the portfolio was $ 229,436 in the third quarter of 2021 and $ 214,439 at the end of 2020. The company’s third-party outsourcing portfolio has grown over the past nine years. first months of 2021. It ended the third quarter with about 30,000 active assets valued at over $ 8 billion, including about $ 1 billion in interim loans under management.

Correspondent volume reached $ 6 billion in the third quarter of 2021, up 46% from $ 4.1 billion in the third quarter of 2020 and a new corporate record according to Planet Home. The company attributed the increase in volume to the addition of new corresponding loan partners and the increase in volume of existing partners. Planet Home Lending is now the 6th largest government correspondent lender and 12th overall.

Total retail direct mountings stood at $ 1.2 billion in the third quarter of 2021, down slightly from $ 1.4 billion in the third quarter of 2020. The origins of retention increased to reach $ 627 million in the third quarter of 2021, up 7% from $ 585 million in the third quarter of 2020. The company’s distributed retail channel generated $ 584 million in home loans in the third quarter of 2021 , down slightly from the $ 814 million generated by the channel in the third quarter of 2020.