Anchor Bank Offers Mortgage Brokers the Opportunity to Fund Mortgages through Unique Capital Opportunity
Anchor Bank, a Palm Beach Gardens-based community bank, has announced that beginning June 13, 2022; it will begin accepting applications from South Florida mortgage brokers seeking capital to fund mortgages, thereby allowing them to control the funding process for their clients.
Anchor Bank will provide the necessary capital through a Warehouse Line of Credit, a form of commercial asset-based lending with a short term risk classification rather than a traditional longer term mortgage classification. The life of the line of credit will extend from its origination to the time it is sold on the secondary.
“Anchor Bank identified a demand for mortgage brokers wanting to transition into mortgage lenders,” said Anchor Bank President and CEO Nelson Hinojosa. “We look forward to providing them with an opportunity to excel and provide full-service to their clients during this extraordinary real estate boom.”
Interested mortgage brokers are encouraged to contact Senior Vice President, Commercial Lender Robyn Bracero at (561) 383-3163.