Planet, a specialty finance company focused on the servicing and production of mortgage loans, has appointed industry veteran Ted Newton (NMLS #194023) as an Area Sales Manager in Oklahoma. In the role, Newton will help expand the company's presence in the state and strengthen its support for loan originators and borrowers throughout the region. The hire reflects a wider industry pattern: with mortgage rates well above their pandemic-era lows and refinance activity sharply reduced since 2022, lenders have been competing for experienced, purchase-focused production teams whose local relationships and state licenses allow them to establish a foothold in new markets quickly.

Newton is based in Norman, Oklahoma, and is licensed in Oklahoma, Texas and Alabama. He leads a team that includes Mortgage Loan Officer Greg Nurse (NMLS #233681), who also has a strong presence in Oklahoma; Mortgage Loan Officer Patricia Howard (NMLS #1890038); and loan assistant Lacey Brown (NMLS #1807835).

Newton brings nearly 31 years of experience to Planet Home — a career spanning multiple rate cycles, including the pandemic-era refinance boom and the industry-wide volume contraction that followed the rapid rate increases of 2022 and 2023. Most recently, he worked at Union Home Mortgage, where he helped establish the company's Oklahoma presence and grew his group from zero to nearly $100 million in annual production during an 11-year tenure. Earlier in his career, he was president and co-owner of Capital Mortgage, which was later purchased by First Oklahoma Mortgage, and helped build the mortgage operation in Oklahoma from the ground up.

"Ted brings something difficult to teach: a genuine commitment to helping people succeed," said Matt Payan, SVP National Production, Distributed Retail. "He has built teams and served borrowers through some of the most challenging cycles in our industry. His leadership will be an important part of our growth in Oklahoma, and we're excited to give Ted and his team the platform, products and support to build on what they've already accomplished."

Newton said his decision to join was driven by the resources available to borrowers and originators. He was particularly attracted to the company's structure, which includes both loan origination and servicing, as well as its broad product offering. That combination carries practical weight in the current market: servicing provides lenders a stream of recurring revenue and an ongoing relationship with borrowers after closing, which can help offset the cyclicality of origination income, while a broader product menu gives originators more options for borrowers working through affordability pressures.

Throughout his career, Newton has focused on developing other mortgage industry professionals. His leadership philosophy centers on listening, understanding individual needs and providing the support needed to succeed, and he said he is looking forward to continuing that approach at Planet.

"I wanted to join a company that could give our team more opportunities to serve borrowers and build successful careers," Newton said. "Planet has the strength, the products and the people behind the products to help us do that. I'm excited about what we can build here and about helping more people get home. Having more tools and specialized support means we can spend more time counseling borrowers and finding the right solution."