Fix-and-flip lender Anchor Loans launches TPO channel

Key Takeaways:

– Anchor Loans has launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage lenders, and other referral partners.
– The TPO channel will provide residential business purpose loan products, including bridge, fix and flip, ground-up construction, and rental investor loans with debt service coverage ratio (DSCR).
– Tim Landwehr, co-chief revenue officer, led the launch of the TPO channel.
– Anchor Loans aims to expand housing opportunities for buyers and renters by providing investors with capital to refurbish aging homes and build new ones.
– Since its inception in 1998, Anchor Loans has operated in 48 states and funded over 33,000 loans, originating more than $14 billion in loans.
– Anchor Loans was acquired by investment firm Pretium in November 2021, with the aim of improving Pretium’s private capital solutions to the housing market. Leadership of Anchor Loans remained unchanged following the acquisition.

HousingWire:

California-based fix-and-flip lender Anchor Loans launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners whose clients are home builders, developers and investors. 

Anchor Loans’ TPO channel will provide residential business purpose loan products – including bridge, fix and flip, ground-up construction and rental investor loans with debt service coverage ratio (DSCR), the firm said in a release.

Tim Landwehr, co-chief revenue officer, led the launch of the TPO channel.

“We are at a moment in time when regional banks and private lenders are pulling back on financing options while the American housing market is in desperate need of millions more move-in ready homes than exist today,” Rayman Mathoda, CEO of Anchor Loans, said in a statement.

“Our team remains deeply committed to expanding housing opportunities for America’s buyers and renters by providing investors with the capital necessary to refurbish our nation’s aging homes, and build new ones,” Mathoda added.

Since its inception in 1998, Anchor Loans operates in 48 states and has more than 33,000 loans funded, according to the firm. To date, it has originated more than $14 billion in loans to real estate entrepreneurs.

Anchor Loans was acquired by investment firm Pretium in November 2021. 

The deal was expected to improve Pretium’s private capital solutions to the U.S. housing market during a shortage of housing supply and an insufficient stock of move-in ready homes, Don Mullen, CEO and founder of Pretium, said in November.

Leadership of Anchor Loans remained their position following the acquisition.

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Property Chomp’s Take:

Have you ever heard of Anchor Loans? This California-based fix-and-flip lender has recently launched a third-party originator (TPO) channel to cater to mortgage brokers, banks, private lenders, and other referral partners. This move aims to serve clients who are home builders, developers, and investors.

Under its TPO channel, Anchor Loans will offer residential business purpose loan products. These include bridge loans, fix and flip loans, ground-up construction loans, and rental investor loans with a debt service coverage ratio (DSCR). This new avenue will be led by Tim Landwehr, the co-chief revenue officer.

According to Rayman Mathoda, CEO of Anchor Loans, the timing for this expansion is crucial. Regional banks and private lenders are currently reducing their financing options, while the demand for move-in ready homes in the American housing market is skyrocketing. Mathoda emphasizes their commitment to providing investors with the necessary capital to refurbish existing homes and build new ones, ultimately expanding housing opportunities for buyers and renters across the country.

Anchor Loans has been in operation since 1998 and operates in 48 states. Over the years, they have funded more than 33,000 loans, totaling over $14 billion. This track record positions them as a reputable player in the fix-and-flip lending space.

In November 2021, Anchor Loans was acquired by investment firm Pretium. This acquisition is expected to enhance Pretium’s private capital solutions in the housing market, especially during the current shortage of housing supply. Don Mullen, CEO and founder of Pretium, expressed the importance of this deal in addressing the insufficient stock of move-in ready homes.

Despite the acquisition, the leadership of Anchor Loans remains intact, ensuring a seamless transition and continuity in their services.

With this TPO channel, Anchor Loans aims to bridge the financing gap and support the real estate industry’s growth. By partnering with mortgage brokers, banks, and other referral partners, they can provide the necessary financial resources to meet the increasing demand for housing. This move is a testament to Anchor Loans’ commitment to expanding housing opportunities and revitalizing the American housing market.

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