Over the past four years, Planet Home Lending SVP, portfolio retention sales Adam Spigelman re-engineered the company’s retention division as it expanded its licensing to cover originations in 47 states, plus D.C., Puerto Rico and the U.S. Virgin Islands. Informed by cutting-edge analytics, he updated sales and automated marketing campaigns, recruited industry-leading call-center professionals and worked with operations to increase cost efficiencies. His actions drove quarterly payoff recapture rates as high as 94%.
As Planet Home Lending’s servicing portfolio rose from $33 billion in 2020 to nearly $50 billion at the start of 2022, Spigelman created specialty teams with a deep understanding of unique customer groups. Spigelman’s team provides expert defensive recapture service to Planet’s private and sub-servicing clients as well. Spigelman isn’t just great at retaining home loan customers, he’s also great at retaining employees.
In the past four years, his team experienced only one voluntary resignation and two employees who chose to work part-time down to the last customer in their pipelines by the time of their retirement.
What is the best piece of advice you have ever received?
My dad told me that the secret to getting people to do their best work was to lead by example. I never ask people to do anything I don’t do myself.
SVP, Portfolio Retention Sales
Planet Home Lending