Connecticut-headquartered mortgage servicer and lender Planet Home Lending has hired Doug Long as senior vice president and divisional sales manager.
Long, who brings more than 20 years of experience in the mortgage industry, will be responsible for building Planet’s retail networks and will also have a focus on product development, the company said.
“Planet is pioneering the future of mortgage lending with novel products like Cash 4 Homes, 1st Year Flex, Purchase EDGE, one-time close construction loans, and bridge, renovation and manufactured home loans,” Long said.
“What sets us apart is not just these products, but how we come together, across different channels, to continuously innovate and refine them. This synergy allows Planet to offer unparalleled operational support to its sales professionals, along with no hidden overlays and some of the industry’s best turn times.”
Long was most recently the executive regional manager for Union Home Mortgage before joining Planet.
His previous positions include southeast divisional president at AmeriFirst Home Mortgage, which was acquired by Union Home Mortgage in December 2022; and president of national lending at Prospect Mortgage.
As the 12th-largest mortgage lender, Planet Home Lending posted an origination volume of $25 billion in 2023, a 5.3% decline from 2022, according to Inside Mortgage Finance. America’s top 50 lenders saw an average origination volume decline of about 41% in 2023. Its strategy has focused on acquisitions in both correspondent and retail channels.
The company’s acquisition of Homepoint‘s delegated correspondent business in 2022 boosted its correspondent market share, with about 70% of its origination coming from the correspondent channel.
In June 2023, Planet Home Lending acquired Platinum Home Mortgage Corporation, bringing over 20 branches.
Planet Home Lending has 175 sponsored mortgage loan originators in 35 active branches across the country, according to the Nationwide Multistate Licensing System.
