Anchor Loans President Andrew Pollock Featured in Geraci Innovate Special Edition

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In its April 2023 Innovate Special Edition, Geraci Originate Report interviewed Anchor Loans President Andrew Pollock. This in-depth conversation with an accomplished industry veteran contains multiple gems about the past, present and future of the private lending business.

Why did you choose Private Lending?

To some extent, Private Lending has chosen me, not the other way around. My background was in residential lending, going back more than 30 years. I spent much of my early career at First Franklin, a national non-prime lender. By the time I was CEO, First Franklin was one of the largest and most profitable nonprime mortgage banking companies in the U.S., having grown from 800 employees to more than 3,000. And then the mortgage crisis hit.

My first introduction to Private Lending came in 2014 when I was recruited as the President and CEO of a newly formed joint venture between WDB Funding and Clayton Holdings, LLC. They wanted to stand up a company to take advantage of emerging market opportunities in fix and flip and become the alternative financing/hard money lender of choice. I guess I did the job too well, because after 18 months, Clayton, the national due diligence firm, asked me to come on board, and I eventually became Clayton’s Chief Revenue Officer.

Fast forward to 2020 and my second opportunity in Private Lending. Steve Pollack, the founder of Anchor Loans, asked me to come on board as President. He wanted me to either find companies that Anchor could acquire or find the right long-term investor that would support Anchor’s growth, in both good market cycles and bad.

At the end of 2021, we sold Anchor to Pretium Partners, a very dynamic, real-estate focused investor with more than $50 billon in AUM. Given the state of the Private Lending market over the past year, this decision looks even more prescient.

What is your current role and what do you do day to day?

This is a particularly timely question since my role is shifting slightly. For the past two years, I have been pulled in different directions managing and growing Anchor Loans during an incredibly turbulent period, which has required a very hands-on approach. At the same time, I’ve been working to leverage and develop synergies with our very dynamic parent, Pretium Partners. It’s been apparent to me, and something that I have shared with Pretium, that this is really a two-person job. I’m happy to announce that they have agreed with me, and at the end of last month, we announced that Rayman “Ray” Mathoda, an amazing CEO candidate, has agreed to come on as CEO. I will now be moving into the President’s role, which better suits my strengths and interests and will make my family happier.

What excites you about your role today?

In my new the role as President, I’ll be focused on market share growth, business channel expansion, and product/service innovation. I’m looking forward to working closely with Ray to usher in Anchor’s next phase of growth and operational excellence.

Read the full article here

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