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Planet Home Lending to Acquire Homepoint Correspondent Assets.

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Vincent

MANews-(C)2009-2022

US-based mortgage lender and servicer Planet Home Lending, LLC has entered into a definitive agreement to acquire certain assets of the delegated correspondent channel of mortgage originator and servicer Home Point Financial Corp from Home Point Capital Inc, the firm said.

Correspondent lenders served by both companies will benefit from consolidation in a volatile market, said Planet Home Lending president of Lending John Bosley.

Homepoint generated USD 20.7bn in delegated correspondent volume in 2021, making it the 13th largest correspondent lender, according to Inside Mortgage Finance data.

Planet Home Lending is ranked 12th with USD 22.8bn in correspondent volume.

McGuireWoods, LLP acted as legal adviser to Planet Home Lending. Jones Day acted as legal adviser to Homepoint. Stratmor Group acted as investment banking adviser to Homepoint.

Planet Financial Group, LLC, Meriden, Conn., is a fully integrated family of companies delivering origination, servicing and asset management solutions.

Planet Home Lending, LLC, Meriden, Connecticut, is an approved originator and servicer for FHA, VA and A, as well as a Freddie Mac and Fannie Mae Seller/Servicer, a full Ginnie Mae Issuer and...

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