Anchor’s proprietary fintech, enhanced with artificial intelligence, has distinguished us from our competitors by providing intuitive, streamlined loan evaluation and fast funding—closing loans for our borrowers in as few as 3-10 business days. Developed in-house by our team of financial, real estate and technology experts, our fintech is unique in its systematic aggregation and quick analysis of data that inform borrower approval, project evaluation, loan processing and funding, construction support, payment automation, default prevention and intervention, and many more of our vital business operations.
What is fintech exactly? The term fintech, or financial technology, describes any advanced technology used in the operations of financial institutions—and also includes a broad variety of commercial and personal finance technologies (such as desktop software and cell phone apps) used by businesses and consumers.
Anchor’s unique fintech allows us to quickly and efficiently fund fix-and-flip and rental properties that would not qualify for bank financing, or would take a traditional lender 30-45 days to fund. By quickly aggregating and evaluating a wide range of data sets, both public and private, we are able to minimize risk while providing qualified real estate entrepreneurs with fast access to the capital needed to execute purchase contracts, compete at foreclosure auctions, close cash-only deals and fund construction.
Our fintech supports an easy-to-use portal where you can sign up for an account in under a minute and apply for fix-and-flip and rental property financing via a secure and user-friendly guided process. The fintech streamlines the workflow, and with a few button clicks from an Anchor processor the submitted loan request goes into the approval queue where rules trigger requirement checks, exceptions and automated flags. If flags are raised, the system alerts managers to review for exceptions. When all requirements are met, funds are wired to the borrower within 24 hours.
Anchor’s speed and efficiency have made us the first fix-and-flip lender to fund more than $1 billion in loans in a single year — with over $1 billion funded in 2016, over $1 billion in 2017, and over $5.3 billion life-to-date fundings since 1998. And, with a foreclosure rate of 0.3% since 2010 and negligible losses, our fintech’s speed has not compromised underwriting accuracy.
“Companies that automate more processes will continue to thrive as fintech grows,” said Sabrina Zuckerman, COO at Anchor Loans. “In addition, delivering value added benefits to customers will enhance loyalty to your company.”
The sky is the proverbial limit when it comes to the future of fintech, and we are committed to staying on the cutting edge as we provide real estate entrepreneurs with the financial leverage and technological advantage to succeed. Our vision for the future is to continue providing unmatched customer service and fast funding while we develop additional resources to help our borrowers conduct business more efficiently and maximize their profitability.