Planet Home Lending Names Mike Lee SVP of National Production
15-year industry veteran has long track record of building loan originations
New York, NY (December 12, 2017) — Planet Home Lending LLC, a privately held mortgage lender and servicer, announces that Mike Lee, a 15-year veteran of the residential mortgage business, has joined the company as senior vice president of national production. He is also a member of the company’s executive committee.
Lee leads all sales activities in distributed retail and third-party origination channels throughout the U.S. He is responsible for strategically building and managing corporate and branch franchises, including recruiting, on-boarding and transition activities. Lee will directly recruit and hire top-tier distributed retail branch managers and loan originators in the company’s key markets.
According to Lee, “it is extremely important that we find the right partnerships because our primary goal is to invest in and support sustainable and scalable growth. Far too many growth companies’ primary efforts are in new branch acquisitions rather than creating a balance between new growth opportunities and fully supporting their existing branch network.”
“Mike has vast experience in building loan production and is the perfect person to lead our expansion efforts,” said Mike Dubeck, president and CEO of Planet Home Lending. “We are confident he will help us become one of the top mortgage companies in both production volume and geographic reach.”
Before joining Planet, Lee was executive vice president for the Western U.S. at Cross Country Mortgage, where he was responsible for business development, recruiting, operations, fulfillment, and strategic planning. Prior to that, Lee held executive positions in sales and production at Peoples Home Equity Inc. and CMG Financial. Earlier in his career, he served as executive vice president of national production for WMC Mortgage, a GE Money Company.
“Planet will be a leader in product innovation in the mortgage space, particularly in the non-QM world,” Lee said. “Coupled with best-in-class service and transparency in pricing, it fosters a culture that represents who we are as a Company. We are a service organization that values long-term partnerships.”
Planet is looking to increase loan originations to $5 billion by the end of 2018, up from $3 billion in 2016. The company expects $1 billion of the production to come from its distributed retail unit. Planet expects to expand its retail presence by supporting the growth of its existing branches and strategically adding branches in strong purchase-money markets.
“We are working with and looking for branches that are well established in their markets and have both the potential and desire to build on their existing business,” Lee said. “They’ll gain great pricing from our cutting-edge secondary marketing technology, support from our first-in-class underwriting and fulfillment teams, and Planet Home Lending’s powerful in-house marketing team.”