Ely Harary is the Founder and President
of Anchor Mortgage Company
Mr. Harary grew up in Dartmouth, Massachusetts, and worked for many years in his parents’ jewelry store, Harary’s Jewelers in New Bedford. "My dad always taught me to be respectful of customers and to treat them fairly." He went to school at UMass Amherst and graduated with a degree in Accounting. His first job out of college was a dream; working in the accounting department for the Boston Bruins. After a few years working in the trenches, he felt it was time to move on. Ely soon began working for and became a partner in the Eastport Manufacturing company in Falmouth, MA. Eastport Manufacturing became one of the initial licensees in MLB baseball, producing licensed t-shirts for retailers such as JCPenney and Sears, and the MLB teams. After his senior partner decided that the big business world was getting too large, in 1984 they sold the company to Starter Mfg.
Subsequently, he got involved with real estate on Cape Cod. During that time, Ely had to deal with local banks for financing. He became frustrated dealing with them, because they were incompetent, overpriced and overhead laden, as represented by their lush offices, etc. "That entire business attitude was against my principles. I was always taught that the consumer is king, and should get the best deal available. So, after that period, I opened Anchor Mortgage because I believed I could do better in a more personalized mortgage environment. Honesty and value are the principles I believe each borrower deserves." Over the years, he has probably turned down as many applications as he has accepted; "Because if I analyze a situation and it doesn’t make sense, I am upfront with the borrower, and tell them to keep what they have or wait until the time is proper to make a move. I like to sleep at night, and cannot believe how some outfits can take advantage of borrowers."
Ely was originally licensed by the Mass Division of Banks when they started licensing in the 1990’s, and now currently through NMLS, as a Mortgage Loan Originator (MB29401), and Anchor has been licensed accordingly as a Mortgage Broker (MB3745).
Mr. Harary has served as President of Cape Cod Synagogue and continues to volunteer there today in various functions. He and his wife Randy have lived on the Cape since 1980. They have two grown married children and two beautiful grandsons.