Planet Financial announces 64% annual growth in residential originations

Planet Financial Group LLC, the parent of national mortgage lender Planet Home Lending, on Tuesday reported strong growth across its servicing, origination and asset management channels in the second quarter of 2025.

The company — which also does business under the name Planet Loan Servicing and asset manager Planet Management Group — grew its total servicing volume to $134 billion during the second quarter, up 7% up from the first quarter and 22% higher than the same period last year. Planet’s servicing portfolio has expanded more than sixfold during the past five years, from $22 billion in Q2 2020.

“Planet’s results this quarter reflect the strength of our multichannel, all-weather strategy and our ability to deliver in today’s market,” said Michael Dubeck, CEO and president of Planet Financial Group. “We’re scaling our platform, deepening relationships across channels, and continuing to win market share through disciplined execution and unmatched service.”

In Q2 2025, Planet also completed a $125 million add-on to its prior $475 million debt security issuance. It reported an expansion of its owned mortgage servicing rights (MSRs) to $118.47 billion — a 7% increase from Q1 2025 and a 29% increase year over year.

“We have earned multiple servicing awards and ratings upgrades, proving that even at record portfolio levels, our high-touch, high-performance platform delivers the exceptional experience clients and borrowers expect,” said Sandra Jarish, president of Planet Home Lending’s servicing division.

A release from Planet said it acquired $5 billion in MSRs. Planet’s subservicing portfolio grew to $13.84 billion in Q2 2025, up 3% from the prior quarter.

“Investors choose Planet because we combine nimble execution with a commitment to protecting portfolio performance and minimizing risk,” Jarish said. “Our dedicated sub-servicing team and true non-compete model ensure our clients’ assets get the attention they deserve.”

Origination stats

Planet originated $6.54 billion in residential loans during Q2 2025, a 25% increase from Q1 2025 and a 64% increase year over year.

Correspondent production reached $5.8 billion, with July marking a company record for funding. Retail originations totaled $759.5 million, up 34% from Q1 2025 and 82% from Q2 2024. Retention retail volume climbed to $440.7 million in Q2 2025, a 31% increase achieved without adding staff.

“We’re holding a strong servicing book, so every time rates dip — even briefly — we’re capturing wins,” John Bosley, president of Planet Home Lending’s origination division, said in a statement.

Distributed retail volume hit $318.8 million in the second quarter, up 40% on a quarterly basis 70% on a yearly basis.

Planet attributed the growth to its recruiting successes across the first half of the year. This was led by Matt Payan, its senior vice president of national production; Candice McNaught, its SVP of retail growth and strategic marketing; and the higher adoption rate of proprietary products led by SVP and divisional sales manager Henry Brandt.

“Our step-by-step playbooks for proprietary and niche products like Buy Now. Sell Later., Manufactured Housing, and One-Time Close Construction give originators the tools to engage more real estate agents, builders, and borrowers — and close more loans,” Bosley added. “This quarter’s performance reflects the strength of Planet’s sales teams and market demand for its products.”