operational. quarter, great had our AND On third Chris. to and for our Thanks We outlined originations call, us to a are earnings that I we excited restart very plans in quarter all toast And thank completely report call last you excited I'm today. to the the today. joining
well The to is of pre-COVID going as the use projects pipeline us a silver production nice and platform significant that was will improvements the to our often to work production as make returned We customer and levels to technology. reevaluate more Our pause accomplish the have new improvements to when expanding forward. growing. friendly our is made have chance to we a process lining These are company downtime tough applications efficient our on entire more our and rapidly.
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team they necessary future growth. beneficial Our to and is that convinced were our
In continued terms of to portfolio, stabilization excellent asset of loans job our the of managers we an non-performing loans. delinquent a do saw resolving and the
real better We continue predicted. to the see many performing than recovery strong estate are had and rates markets
a as important that it's we to the Additionally, in level model. CECL provision above adverse the returned note in economy QX to is were expense normalized performing that we saw our assuming levels
growth hard create our new ‘XX. regard structures our Looking the remotely, we most into team team other on well allowed to of to and certain finance in people, locations. recently the continue balance work With members to sheet forward, liability our but to is our our return and to of working side debt us eliminate to quarter relationships to explore physical work mark-to-market risk fourth the during of
to offices. happy minimal we've I'm report our So issues followed. long as that by protocols reopening are had
and Fortunately, straightforward happy that, to presentation a relatively It's our we're serving our motivated, today. turn short we'll healthy, customers to again. presentation With materials. be and
NIM normalize perspective, for well, income quarter. significantly fewer loans opening in by we mentioned net result an I and expense. go we're to is just return NPO saw the the Portfolio as my as So I'm both earnings call to expanded we'll earnings very pleased provision as a driven largely remarks, with the from going just we're and Q&A. to through for pleased, Obviously very top bottom. available Mark on it be up
out the already have of we've market our our the of tremendous reopening. And from responding but gate. quickly restarted, been see pleased how levels response customers we right to got terms had very to I'm pre-COVID that highlighted production, saw In near
strong for again, one resolutions, three and result. of terms the In a quarter very assets half on
We we strong a expect we estate resolve to as to these markets assets. going that see continue continue real forward to and performance
in the quarter $XXX milestone a that were that sit in the will any loans upon were current actually program of were were and recovered forbearance important in the amounts end Another about be account of bearing non-interest million loan that to liquidation. do passed brought they onto the tacked
we of done to the back the slug in that quarter status. was So forbearance current that coming prior had a big loans
forward. and on So financing all quarter. And a for new non third working capital have that right was very good we're agreements mark-to-market that us some in from the perspective, a improvement we've there now as going indicated desire and doing plans looking progress our very securitization making And in our our good in QX. provisions, the and next forward we're that's to past,
the perspective, X a reduction Page of charge from restructuring. took to we just as Turning touch result were earnings core from and the workforce core a that earnings a there costs higher
activity, results a good continue in growth rectifying On as good good there assets see forward and that loans are borrowers as the in earnings basis. a value asset off result to quarter. continue performance resolutions delinquent performance the good strong and So, mentioned paying we resolution and expected and as of are to go on the I X, book there
of you'll can confusing, was the third our requirements quarter to little transaction $XXX of a portfolio, number GAAP to Essentially, bit. provision, X, think loans terms in sometimes loan I our the million distort the of about one the picture HFI, in HFS see $X.X a Turning in loss transfer significant million. somewhat of
really up GAAP had the offsetting the books adjustment reserve loans, comp on first at is look low a the already HFS quarter. for those and just so for the this might we But it that reclassification under is provision So a blush requirements.
up the it rather, income actually And a result as so, of $XXX,XXX net ended to reclass. positive being
enhancements, in change place to response more and there just and up great early of technology make in securitization the we ways meaningful to transaction that restart,got real loan even fantastic. a level portal our as And from find for folks the and hoped of quarter Velocity us X, level brokers with than or just so better those had about continually borrower to of production and in experience. provision. customers XXX seamlessly, friendly some under third are during improve for. that resulted generate but returns had On with more We're sign response we loss the our broker And really the broker no new result us loans, took application talked website interact much were getting forecasted our
expand. enhancements, to So going think all I well serve to are continue investments us and as those we
the sheet. fact is on to off we I our the continue loans, that can terms the NIM interest stabilized resolve the have in we income, And and stabilized we forward, to new expanded next side will performance, as portfolio that down NPLs. they NIM that on loan in On assets driven go ticked by we quarter, hope primarily see you as XX improve hand -- slightly, and our this in that come trend of balance and net as Turning mentioned to can as we expand Page expect to we left X grow months, this the fewer non-accrual down over expectation and the projection X, there we XX portfolio.
the follow too procedure we in had off want and to don't that are make is right Everything of this legally year go about a point we perspective, we with in the charged that the I'm weeds, especially trying loan internally So judgment. one side, charge this positive a we could a it quarter. that from resolutions. was we're in appraiser. on Unfortunately, insurance if Q&A, From was the had that to only one And the a perspective that the pleased an light going didn't dig get a of made that for of here from we're unfortunate loan. did a some large of a loan But hand large result but situation. kind a pursuing go, off what's NPL we let on in gone we the was was is bigger people the actually of it not wrong need also deficiency I borrower ago. It off. wrong. We them kind pursuing COVID. Law have It Murphy's kind And can. far there to
I And I ago. just it's think a larger six number our the time a, of an delinquent last of event kind on of indication It or more something was like preserved. model years importantly, time We an mention happened XX see CECL loans were was believe to of one not just an adverse that this a the charge-off. or five large think for side, we had unfortunate that running CECL not trend and XX, little this on stressed around and On a forecast future points. performance. we that basis indicative very calculation. highly reserve, we're you well can perspective right use we did
remain far, performing the are so on future. reserve performance, the continue CECL the values we've holding some far. we're our has those see And to seeing our strong we the think delinquent we'll future, very very hopeful But demand that we continued XX, those products. that that, competitive received assets. vis-à-vis to terms And our terms pockets and talking we around that for dynamics liquidate we've of real good about pleased the to We economy there's of but ability very And expect work outcomes that go predicted they're there, in arms optimistic than and some the we're portfolio. that and the weakness there, how with market better level across think in there. overall, there's of very We dynamics in to of our and got response estate see But assumptions off, see things been up be continue we'll to delinquency, feel reserve just the about well. very so country.
we'll the obviously, trying foundation and very be to growth, And putting into we expand in an the especially make by profitability. in assets that on and higher to warehouse strategy side of capacity. to sheet, that to that, origination to is working continue pre-COVID excited in terms on levels to balance of sure back and our important obviously just we're risk. mark then driving financing balance year, eliminate QX Lastly, market profitability net that and And sheet next the believe that the income be interest new
we've pieces to continue year plans. growth year So, have put a the and our all expand in place next great I to think
was level. think just it for Mark. or said, to up pretty So, pretty, Q&A myself as pretty appropriate high that both, it's quick now for probably open I presentation, And I
