He will help the company scale its loan products for home flippers and landlords
Planet Renovation Capital (PRC), the commercial lending division of the Planet Family of Companies, is expanding into the third-party origination market with the addition of Larry Brand to its leadership team.
PRC has hired Brand as regional sales manager to grow the company’s team of account executives and support its extension into third-party originations.
Commenting on the expansion, Michael Dubeck, CEO and president of Planet Financial Group, said: “PRC has the financial strength to continue funding and to seize volume at a time when others are repricing, tightening guidelines and pulling back in response to market volatility.”
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Brand brings more than three decades of mortgage industry experience, with time spent at Planet Home Lending as director of retail production and at Sprout Mortgage as senior vice president of rehabilitation lending.
“Larry’s extensive experience building mortgage channels will enable PRC to scale up its volume in residential transition loans (fix-and-flip), debt service coverage ratio (DSCR), ground-up construction and other loan products serving real estate investors, including home flippers and landlords,” Dubeck said.
“I joined PRC because it has the capital markets expertise to efficiently securitize business purpose loans, the servicing expertise to deliver an outstanding customer experience and the financing to grow in a challenging market,” said Brand. “What gets me up in the morning is helping people and businesses succeed, and that’s what PRC enables me to do.”