Private client lender PCMA has delivered robust third quarter results, driven by an increasing demand for its private client services.
The company reported a 34% quarter-over-quarter gain in its direct retail private client originations (NQM-expanded prime), which grew to $179.9 million in Q3. In addition, its 12-month aggregate loan volume for 2020-2021 hit $436.7 million during the period. PCMA expects its loan volume for the total year of 2021 to exceed $625 million.
“It has been quite the journey overcoming the obstacles COVID has inserted into the financial system. Since the reboot, we have faced crippling vendor delays, clearing legacy assets frozen in the system, economic uncertainty, you name it, we dealt with it, “said John Lynch, CEO and founder of PCMA. “I am so proud of my team in how they faced these challenges and rebooted our operational capacity to deliver another strong quarter of profitability and volume growth.”