Planet has hired Derek Vandlen as regional sales manager, bringing the veteran mortgage leader and his Honor Home Loans team onto the company’s distributed-retail platform.
Based in Tennessee, Vandlen will lead more than two dozen mortgage loan originators across six locations in Kentucky, Tennessee, and Alabama. Planet said the team plans to expand into the Carolinas and Mississippi.
The Honor team previously operated through New American Funding. The group will retain its local identity under the name Honor powered by Planet Home.
Vandlen has 28 years of mortgage experience, including approximately 26 years in regional management. He began his mortgage career after serving four years in the U.S. military, including time in the Judge Advocate General’s Corps.
A substantial portion of Vandlen’s business has focused on military borrowers. His team offers educational programs for consumers and real estate professionals, including classes covering VA renovation loans and first-time homebuyer programs.
“Derek is exactly the kind of leader we want to build with at Planet,” said Matt Payan, senior vice president of national production for distributed retail. “He’s a proven producer who knows how to develop MLOs, recruit experienced talent, and build strong branches.”
Payan said Planet will support the team with pricing, specialized mortgage products, marketing, technology, and operations. Its retail offerings include Buy Now. Sell Later, Non-QM, renovation, manufactured-housing, business-purpose, and one-time-close construction loans.
Vandlen said Planet’s servicing-retention strategy and marketing platform were important factors in the move. Planet retains servicing on most of the loans it originates and uses customer data and automated marketing to identify potential repeat-business opportunities for its originators.
“Planet gives MLOs the technology and marketing resources they need without asking them to build it themselves or pay extra for the tools,” Vandlen said. “That’s real support that lets our MLOs focus on customers and growing their business.”
The addition advances the retail expansion strategy Planet has pursued under Payan, whom the company appointed to lead distributed retail sales in January 2025. Planet subsequently added retail teams in several markets, including two regional sales managers in the Northeast and the True Foundation Team in Florida.
That expansion has begun showing up in Planet’s production. Distributed-retail originations increased approximately 119% year over year during the first quarter of 2026, supported by branch growth, new originators and home-purchase activity. Combined distributed-retail and retention originations reached approximately $1.9 billion.
Planet is a specialty finance company engaged in mortgage origination, servicing, and affiliated services. Planet Home Lending operates as a division of Planet Financial Group.
