Anchor Loan, a California-based home improvement and resale lender, has launched a third-party originator (TPO) channel to serve mortgage brokers, banks, private and non-qualified mortgage (non-QM) lenders and other referral partners who serve homebuilders, developers and investors.
Anchor Loans' TPO channel will offer residential commercial loan products, including bridge loans, remodel-and-flip loans, ground-up construction loans and rental investor loans with debt service ratios (DSCRs), the company announced.
Co-Chief Revenue Officer Tim Landwehr led the launch of the TPO channel.
“The U.S. housing market desperately needs millions more move-in ready homes, yet community banks and private lenders are cutting back on lending options,” Anchor Loans CEO Rayman Matoda said in a statement.
“Our team remains committed to expanding housing opportunities for American buyers and renters by providing investors with the capital they need to renovate and build new homes in America's dilapidated homes,” Matoda added.
Anchor Loans operates in 48 states and has made more than 33,000 loans since it was founded in 1998, according to the company, which has provided more than $14 billion in loans to real estate entrepreneurs.
Anchor Loans was acquired by investment firm Pretium in November 2021.
Pretium CEO and founder Don Mullen said in November that the transaction is expected to enhance Pretium's private capital solutions to the U.S. housing market, which continues to be hit by a housing supply shortage and a limited inventory of move-in ready homes.
Following the acquisition, Anchor Loan's leadership remained intact.