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Pacific Private Money Group launched Pacific Mortgage Capital, a lending division focused on Non-QM and Jumbo Prime financing for West Coast Borrowers, according to a recent press release. The new division will also compliment Pacific Private Money Inc., an institutional-grade private money lender launched back in 2008.
PMC will be led by William Aubrey, a 28-year industry veteran who will serve as president of the division.
"With industry experts predicting Non-QM growth from 4 times to 10 times in 2021, Pacific Mortgage Capital will be the one lender able to provide originators a full-service offering of Non-QM, non-agency Jumbo Prime, investor rental products as well as traditional alternative, bridge financing options," said Aubrey, according to the press release.
"Increased bank lending regulations and restrictions have been a catalyst for growth in the alternative finance space since 2012," said Pacific Private Money founder and CEO Mark Hanf, "Non-QM lending has doubled in growth every year for the past three years pre-COVID, and we expect similar growth opportunities in 2021 and beyond."