PCMA Private Client Presenting at ABS East Virtual
jason jepson - December 2, 2020
Irvine, CA Nov. 30th, 2020: PCMA, the pioneer and leading voice in Non-Bank Private Client Lending, will be sponsoring and presenting at the virtual ABS East conference; Tuesday December 1st at 12noon ET. CEO and Founder of PCMA, John R. Lynch, will be speaking on the “Are Free Markets Still Free? Exploring the Impact of Government Intervention” panel.
“Since March the Fed has purchased a record $1 trillion of mortgage bonds and now owns a third of all bonds backed by U.S. home loans,” said John R. Lynch, CEO and Founder of PCMA. “The truth is, consumers, particularly high net worth and mass affluent individuals, might have been better off if the Fed had not gone on its bond buying spree. The gap between mortgage rates and benchmark 10-year Treasuries is the widest since the Great Recession — 2.9 percentage points compared to the 1.74 average of the last five years.”
John Lynch, CEO of PCMA will contribute to the discussion of “Are Free Markets Still Free? Exploring the Impact of Government Intervention” panel alongside fellow industry expert panelists: Lara Daly-Sims, partner in Chapman’s Asset Securitization Department; Ann Rutledge, CEO of Creditspectrum Corp; Dan Wohlberg, Director at Eagle Point Credit Management; and Laila Kollmorgen, Managing Director at PineBridge Investments.
PCMA is a proud supporter of ABS East 2020, a virtual conference that will take place December 1-2, delivering the same valuable and timely program content we have all come to expect from the annual in-person gathering. While ensuring the health and safety of valued industry members, the shift to a fully digital event will not only provide new and unique benefits through the virtual platform, but also enables an even wider global audience the opportunity to participate.
“The Fed controls the primary liquidity of housing but only for safe harbor and QM loans. As much as 30% of U.S. households do not meet safe harbor standards, including creditworthy high net worth and mass affluent individuals who turn to private lending,” said Lynch. “If the Fed is backstopping the agency markets, would they consider backstopping private capital markets to make a truly equitable situation? Sadly, I think we all know an action like that by the Fed is not likely.”
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