ALISO VIEJO, Calif.--(BUSINESS WIRE)--PCMA, the pioneer and leading voice in Non-Bank Private Client Lending, announced 2019 first quarter results including new hires, the launch of LendingIQ and Direct Channel Originations of $44,165,492.00 for the first quarter of 2019.
“We had a great quarter and continue to build our operational capabilities to accelerate origination volume in the coming quarters,” said John Lynch, CEO and founder of PCMA. “PCMA delivered strong performance in the non-QM space during the quarter with nearly $45 Million of Direct to Consumer originations in what is seasonally a very slow quarter and we made significant strides in preparation of expanding our origination capabilities with the development of our Channel Partner Network calendared for beta launch in the 2nd Quarter.”
In the first quarter PCMA also made significant moves in technology; launching LendingIQ; as well as bringing on top tier C-suite talent with the additions of industry veteran Irma Smith as VP of Channel Operations, Jason Jepson as VP of Communications and Jimmy Yeom as Enterprise Brand Manager.
“PCMA Private Client Lending performance in the first quarter demonstrates the business opportunity in the Non-Bank Private Client Lending category that we uncovered in the non-QM space,” said John Lynch, CEO and founder of PCMA.
In the first quarter, PCMA launched LendingIQ, a new technology platform to further expand their origination capacity. LendingIQ is a PAAS (platform as a service) that helps automate service delivery from end-to-end in minutes driving powerful business outcomes by automating interfaces across the private client ecosystem.
Direct Channel Originations have continued to improve quarter to quarter, with an average loan amount per transaction of $817,796.29, an average FICO score of 728 and an average LTV of 62.48%. PCMA will continue to see loan volume growth with the launch of their proprietary Channel Partner Network along with continued expansion in key geographic locations throughout California and western states with high concentrations of high capacity consumers.
“Our commitment to building a top tier organization requires that we build a best of breed management team,” said Lynch. “Each quarter we will continue to build out new services, credit enhancements and recruit the brightest executives to join our amazing team.”
PCMA is the leading non-bank private client lending organization serving the needs of their mass affluent and high net worth clientele. PCMA offers qualified individuals and institutions bespoke lending solutions across all major residential asset classes. PCMA is a diversified financial enterprise offering private client solutions through a direct to consumer and distributed retail business model. PCMA strives to build trusting and enduring relationships by putting clients and professional partners at the center of all they do. PCMA is headquartered in Orange County, CA. Additional information is available at www.pcma.us.com.