Planet Launches Innovative Commercial Servicing Division

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May 18, 2023, 08:19 ET

Empowers Investors with Advanced Technology and Expert Advisory Services

MERIDEN, Conn., May 18, 2023 /PRNewswire/ -- Planet Financial Group has added an innovative commercial servicing division to its family of companies. Led by Planet Management Group, Executive Vice President James DePalma and Senior Vice President Janina "Gigi" Woods, Planet's high-touch, experienced asset management team will benefit investors throughout the asset class.

Planet Management Group EVP James DePalma

"Planet is a trusted partner for investors seeking the people, process, and perspective needed to navigate ever-changing commercial lending markets," said Michael Dubeck, CEO and President of Planet Financial Group, parent of Planet Management Group. "Our specialized technology and expert advisory services provide tools to effectively manage performing and non-performing commercial assets at scale."

Planet's commercial technology seamlessly automates all facets of complex commercial loan servicing, including flexible automated payment processing, detailed asset and financial tracking, investor reporting, escrow administration, collateral tracking, delinquency and collection management, imaging and report writing. It also manages quarterly and annual debtor covenant testing and related CRES reporting.

Planet has managed commercial assets since its inception in 2007, catering to private and institutional investors, government entities, and commercial originators. After experiencing significant, organic portfolio growth and client demand, Planet expanded its investment in the commercial platform's talent, technologies and systems.

"The commercial servicing division's platform, processes, and discerning professionals bring an unparalleled level of sophistication and expertise to the primary and special servicing of non-QM, Residential Transition Loans (fix-and-flip), DSCR, multi-property SFR, multifamily, and small- and large-balance commercial loans," Dubeck added.

The commercial servicing division also leverages Planet's ecosystem of special servicing techniques to maximize return and recovery with high-touch borrower communication and timely, transparent reporting that keeps portfolios running at peak efficiency.

Led by proven industry veterans with unparalleled expertise spanning asset classes and market cycles, the division's deeply experienced commercial asset managers confidently deliver comprehensive servicing tailored to meet each client's unique needs.

"Our continued investment in commercial represents a significant step forward in our commitment to delivering unmatched asset management and servicing," Dubeck said. "With our innovative technology, expert advisory services, and operational excellence, we are confident Planet will continue to be the preferred partner for investors seeking comprehensive portfolio solutions."

About Planet Financial Group, LLC

Planet Financial Group, LLC, Meriden, Conn., is a fully integrated family of companies delivering innovative origination, servicing and asset management solutions. Through this synergistic ecosystem of products, services and technologies, Planet Financial Group provides best-in-class experiences for investors pursuing value maximization and borrowers seeking streamlined end-to-end loan lifecycle support. Planet Financial Group is the parent of Planet Home Lending, LLC and Planet Management Group, LLC, which also does business under the name Planet Renovation Capital.

About Planet Management Group, LLC

Planet Management Group, LLC, Melville, N.Y., maximizes the value of diverse investor assets through active management. For more information about Planet Management Group, please visit https://planetmanagementgroup.com.

Press:
Dona DeZube
Vice President, Communication
Planet Home Lending
[email protected]
(443) 263-2832

SOURCE Planet Financial Group