Planet Home Lending (PHL) ‘s portfolio of services topped $ 25 billion, fueled by the growth in fixtures and the company’s successful efforts to retain existing customers who refinance or buy new homes, according to the company.
The PHL representative said the expansion of the service portfolio was driven by origination increases released through the company’s distributed correspondence, retention and retail channels.
“As a large-scale national supplier and subcontractor, our ability to retain customers is paramount to our business,” said Michael Dubeck, CEO and President of PHL’s parent company, Planet Financial Group, LLC. “We are revolutionizing the service experience by combining the latest technology with customer-centric call centers. This benefits our borrowers as well as borrowers from contractors who use Planet Management Group, LLC to manage their portfolios.
PHL’s call center strategies allow the company to maintain a great customer experience while managing COVID-related forbearance and the fallout from multiple natural disasters, representatives added.
“Our strategy of managing multiple call centers allows us to manage current customers and those who need help preventing default or foreclosure,” said Sandra Jarish, president of PHL. “We cross-train our customer service reps to provide a single point of contact as often as possible, which borrowers love. “
PHL also offers digital tools and borrower assistance portals where clients can make payments, request and track loan assistance progress in times of financial hardship, and request initial forbearance or extensions.
“Our borrower portal allows people facing financial challenges to see their options,” Jarish said. “They also receive decisions to resolve their fault as quickly as possible. We back this technology with highly experienced professionals who accompany clients needing personalized support throughout the training process. Leveraging this technology creates efficiencies for Planet Home Lending and for the private clients whose loans we under-manage.
PHL’s ability to build lasting relationships with clients, along with the use of technology has led to above-average retention rates for the company, even in the face of record interest rates. Its retention division applies cutting-edge analytics to identify and market personalized offers to current customers.
“Our goal is to become the life lender for borrowers,” Jarish said. “With the right technology and the right people in place, we are increasingly achieving this goal. “
Planet Home Lending, LLC, Meriden, Connecticut, is an FHA, VA, and USDA Authorized Originator and Repairer, as well as Freddie Mac and Fannie Mae Seller / Repairer, a Ginnie Mae Full Transmitter and an Under – Approved Trader, and a Primary and Special Service Agent rated by Standard & Poor’s and Fitch.
According to PHL spokespersons: “Its corresponding division offers a full range of government, agency and niche real estate loans. PHL is also a special service managing various investor portfolios. Its customized service solutions maximize asset recovery and optimize performance through active portfolio management and loan levels, and it is an equal opportunity lender. “
To learn more about PHL, click here on the company’s website.