Planet hires Derek Vandlen to expand regional sales

Planet named mortgage veteran Derek Vandlen regional sales manager in Tennessee as the company pushes distributed retail growth across the Southeast. Vandlen will lead a multistate team now spanning Kentucky, Tennessee and Alabama, with plans to enter the Carolinas and Mississippi.

Why it matters: - Planet is using an experienced regional leader to grow its mortgage production footprint across multiple states. - Vandlen’s hire supports Planet’s push to expand distributed retail while keeping local branch relationships in place. - The move also gives Planet a veteran-focused leader with experience in homeownership programs and borrower education.

What happened: - Planet hired Derek Vandlen as Regional Sales Manager in Tennessee. - Vandlen has 28 years of mortgage experience. - Vandlen will lead a growing team across Kentucky, Tennessee and Alabama. - Planet said the team plans to expand into the Carolinas and Mississippi. - The team operates as Honor powered by Planet Home.

The details: - Vandlen holds NMLS #6409. - Vandlen has built teams and relationships with borrowers, real estate professionals and builders. - His team includes more than two dozen producers across six locations. - Vandlen is a U.S. military veteran. - Vandlen has focused much of his career on helping veterans become homeowners and helping borrowers understand financing options. - The team offers educational programs for real estate professionals and consumers, including VA renovation and first-time homebuyer classes. - Planet’s Distributed Retail platform offers Buy Now. Sell Later™, non-QM, renovation, manufactured home, business purpose and One-Time Close construction loans. - Planet retains servicing on the majority of its loans. - Planet uses automated marketing campaigns and lead management technology to match originators with customers. - Planet Home is a DBA of Planet Home Lending, LLC (NMLS#17022). - Planet Financial Group, LLC is the parent company of Planet Home Lending, LLC.

Between the lines: - Planet is betting that seasoned managers can scale faster when they get pricing, products, technology, marketing and operational support. - Vandlen’s comments suggest the company’s technology and marketing stack was a key reason for his move. - The hiring also shows Planet wants local branch leadership to stay intact while the platform expands into new geographies.

What's next: - Vandlen’s team will continue operating under the Honor powered by Planet Home brand while entering new markets. - Planet said the team will keep its local presence and relationships as it expands. - The company is positioning distributed retail leaders to recruit talent and open additional branches.

The bottom line: - Planet is adding an experienced mortgage executive to accelerate multistate growth without losing the local branch identity that already supports the business.