Planet Financial Group has launched a loan servicing division targeting the commercial lending market.
Planet’s new division will deliver a wide range of tools and services, spanning automated payment processing, detailed asset and financial tracking, investor reporting, escrow administration, collateral tracking, delinquency and collection management, imaging and report writing. The commercial servicing division will be co-led by executive vice president James DePalma and senior vice president Janina Woods.
“Our specialized technology and expert advisory services provide tools to effectively manage performing and non-performing commercial assets at scale,” said Michael Dubeck, CEO and president of Planet Financial Group. “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.”