Planet Home Lending announces CFO reshuffle

Former CFO switches position before planned retirement

Planet Home Lending announces CFO reshuffle

Planet Home Lending has named Paul Walker (pictured) as its new chief financial officer.

Walker, who brings over two decades of mortgage banking finance expertise to the role, will replace former Planet chief financial officer Teresa McDermott. She will transition to deputy CFO ahead of her planned retirement in the next two years.

Planet Financial Group chief executive Michael Dubeck said Walker will “guide our financial strategy, leading Planet’s integrated platform to continuously deliver efficient, innovative solutions and services to consumers, business partners, and clients.”

In her new role, McDermott will focus on strategic projects and ensure a smooth knowledge transfer to maintain the company’s trajectory.

“Teresa’s leadership has been crucial in building Planet from a $5 billion Ginnie Mae servicer in 2007 to its industry-leading position today with a $106 billion portfolio in servicing and sub-servicing and the #4 spot in correspondent lending,” Dubeck said in the company’s media release.

Walker joined Planet from Mortgage Assets Management and Supreme Lending, where he served as chief financial officer, spearheading fiscal planning and strategic initiatives. His prior experience includes senior financial roles at Finance of America, Mr. Cooper (formerly Nationstar), and public accounting firm KPMG.

Read more: Planet Home Lending strengthens Southeast presence

“Planet’s commitment to connecting multi-channel origination with servicing and asset management creates a unique environment that drives efficiency and scaled growth,” Walker said. “My goal is to strengthen this ecosystem, working to ensure our finance department collaborates closely with all divisions to optimize our service delivery and sustain our competitive edge.

“I look forward to contributing to Planet’s success and working alongside the talented team here to enhance our market position and financial performance.”

Based in Connecticut, Planet Home Lending is an originator, correspondent lender, rated servicer and sub-servicer of agency and non-agency residential and commercial mortgages.

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