Planet hires mortgage veteran Ted Newton to lead Oklahoma sales

Planet has named Ted Newton as area sales manager in Oklahoma to grow its footprint and support loan originators and borrowers across the region. Newton brings nearly 31 years of mortgage experience and joins as Planet looks to expand its distributed retail presence.

Why it matters: - Planet is adding an experienced local leader as it pushes deeper into Oklahoma. - The hire is aimed at widening support for loan originators and borrowers in the state. - Newton’s background in building mortgage teams signals a focus on production growth and market share.

What happened: - Planet named Ted Newton (NMLS #194023) area sales manager in Oklahoma. - Newton is based in Norman, Oklahoma. - Newton is licensed in Oklahoma, Texas and Alabama. - Newton’s team includes Mortgage Loan Officer Greg Nurse (NMLS #233681), Mortgage Loan Officer Patricia Howard (NMLS #1890038) and loan assistant Lacey Brown (NMLS #1807835).

The details: - Newton brings nearly 31 years of mortgage industry experience. - At Union Home Mortgage, Newton helped establish the company’s Oklahoma presence. - Newton grew that group from zero to nearly $100 million in annual production over 11 years. - Earlier, Newton was president and co-owner of Capital Mortgage, later purchased by First Oklahoma Mortgage. - Newton also helped build a mortgage operation in Oklahoma from the ground up. - Matt Payan, SVP National Production, Distributed Retail, said Newton’s leadership will support Planet’s growth in Oklahoma. - Payan said Planet will give Newton and his team the platform, products and support to build on their results. - Newton said the move was driven by the resources available to borrowers and originators. - Newton said Planet’s structure combines loan origination and servicing, along with a broad product offering. - Newton said he wants more time to counsel borrowers and match them with the right solution.

Between the lines: - Planet is betting that seasoned producers can accelerate expansion in targeted states faster than a national push alone. - Newton’s history of building from scratch suggests Planet wants both business development and team development in the same role. - The focus on servicing plus origination points to a pitch built around long-term borrower relationships, not just new loan volume.

What's next: - Newton is expected to help Planet expand its Oklahoma presence and strengthen regional support. - Newton will continue focusing on coaching mortgage professionals and growing borrower relationships. - Planet is likely to use the hire to deepen its distributed retail footprint in the region.