Planet Home Lending to acquire certain assets of the delegated correspondent channel of Home Point Financial.

Planet Home Lending, a privately held national residential mortgage lender, agreed to acquire certain assets of the delegated correspondent channel of Home Point Financial, a mortgage originator and servicer. Financial terms are not disclosed. "This transaction demonstrates Planet's unwavering commitment to correspondent lending. In a rising rate environment where other correspondent lenders are pulling back, we're reinvesting our funds to seize opportunities during market disruptions to quickly scale up. Intelligent acquisitions like this one bolster our balance sheet and create a growth path going forward," Michael Dubeck, Planet President and CEO.