His leadership in building the team that has expanded our operations nationwide—and has grown our loan originations to over $100 million per month, makes him a phenomenal fit for the CEO role.
(PRWEB) August 08, 2016
Anchor Loans, LP (“Anchor”), the nation’s leading provider of quick bridge financing for non-owner occupied properties (the “fix-and-flip” industry), announced today the promotion of Stephen Pollack to the position of Chief Executive Officer. In his new role, Dr. Pollack will further build Anchor’s capacity to broaden its reach beyond the over 20 U.S. states in which it now operates.
“Steve is a pioneer and visionary in the fix and flip space and his understanding of the private mortgage industry is unsurpassed,” said Anchor’s Chairman and former CEO, Jeff Lipton. “His leadership in building the team that has expanded our operations nationwide, and has grown our loan originations to over $100 million per month, makes him a phenomenal fit for the CEO role.”
In Dr. Pollack’s former role as the Company’s President, he helped grow Anchor from an entrepreneurial start up in 1998 to the number one private mortgage lender in the nation—with 2016 loan originations expected to exceed $1 billion.
“I am gratified and thankful to be entrusted by the Board of Directors with this position,” Pollack said. “As Anchor’s national expansion gains momentum and new product lines are readied for a Q4 2016 launch, I look forward to working with our top-notch management team to maintain our number one position in the marketplace.”
Dr. Pollack, an Anchor co-founder and member of its Board of Directors, is a licensed mortgage broker and immediate past President of the Board of Directors of the California Mortgage Association. With over 30 years of experience in real estate, Pollack’s extensive knowledge of loan servicing procedures and information systems has been integral to the development of the Company’s proprietary workflow software—which sets Anchor apart from other lenders in its ability to rapidly evaluate, underwrite and fund loans, typically in as few as 5-10 business days.
Dr. Pollack holds a Doctorate (O.D.) in Optometry from the University of California, Berkeley, and a B.S. in Psychobiology from the University of California, Los Angeles.
About Anchor Loans
Anchor Loans has been profitable every year since its founding in 1998 and has shown exceptional performance for its entire history – especially through the real estate downturn and housing crisis of 2008-9. Anchor has originated more than 12,500 short-term loans totaling over $3.5 billion; this includes $477 million in originations in 2014 and $713 million in 2015. Anchor’s experience, relationships and proprietary Fintech platform set it apart from other lenders in its ability to rapidly evaluate, underwrite and fund loans.