Planet Home Lending Adds L.I. Team

Planet Home Lending, a national mortgage lender and servicer, recently announced it has added a new team in Woodbury, N.Y., as part of its growing presence in the state and continued expansion nationwide.

Led by Regional Vice Presidents Jason Morano and Chris Wubbenhorst, who have two decades of mortgage experience, the team of more than 20 mortgage professionals speaks multiple languages to serve the diverse New York metro community.

Morano said he joined Planet Home Lending to gain resources to help modern homebuyers and homeowners. "A good number of first-time buyers fall outside the traditional credit box because they are self-employed or bolstering their income with a second job in the gig economy," he said. "While their income streams may not be standard, they are excellent candidates for homeownership. Planet has the resources we need to help these borrowers purchase a home."

The company also participates in down payment and closing costs assistance programs to make it easier to buy a home, he said.

"Many of today's homebuyers see real estate as an investment that can help build wealth," Morano said. "That's why we offer home loans for two-, three- or four-unit properties. You can live in one unit and apply the rent from the other units toward your mortgage payment."

Planet Home also offers interest rate buydowns that temporarily lower the rate for homebuyers. "It's a seller concession that can make the property stand out from competing listings and it may cost less than reducing the selling price," he said.

"The New York metro area is enriched by people from many different cultures and backgrounds," said Michael Dubeck, CEO and president of Planet Financial Group, parent of Planet Home Lending. "The Woodbury team is impressive in the fact that together they speak a variety of languages, enabling them to better connect with borrowers, understand their goals, and deliver the solutions, resources and support they need."

Woodbury is the second office Planet Home has opened in New York in recent months and one of several nationwide that have opened this year. Morano said the plan is to expand in 2023 by adding 20 loan originators in Queens and North Jersey.

Planet Financial Group LLC is based in Meriden, Conn., and is a fully integrated family of companies delivering innovative origination, servicing, and asset management solutions. PFG is the parent of Planet Home Lending LLC and Planet Management Group LLC, which also does business under the name Planet Renovation Capital.