Their excellence resulted in more than $1 billion in home mortgage financing to nearly 5,000 low and moderate-income homebuyers and homeowners in 2013
BOSTON – April 18, 2014 – (RealEstateRama) — MassHousing has honored its 2013 top-producing lenders for their commitment to affordable homeownership in Massachusetts while helping to provide more than $1 billion in MassHousing Mortgage loans to nearly 5,000 low and moderate-income homebuyers and homeowners.
MassHousing annually recognizes its highest-producing lending partners for their excellence in promoting and originating MassHousing Mortgage products for Massachusetts residents.
In calendar 2013 MassHousing loaned $1.09 billion to 4,831 low- or moderate-income Massachusetts residents who purchased or refinanced a home.
“It has become harder than ever to purchase a home but these lenders have been steadfast in providing home mortgage financing because they know how important it is to homebuyers in Massachusetts,’’ said MassHousing Executive Director Thomas R. Gleason. “Their commitment to responsible lending and affordable housing has resulted in thousands of families being able to acquire their own homes with mortgages they can afford and which will help keep them in their homes for many years to come.’’
The MassHousing lenders honored for 2013 include:
Mortgage Network, based in Danvers, was honored for originating the highest number of MassHousing loans statewide – 361 – totaling $80 million in financing. Mortgage Network was also the top producer in Essex, Hampden and Middlesex Counties.
NE Moves Mortgage, based in Waltham, was honored for providing the most MassHousing financing statewide – $82.4 million – for 338 loans. NE Moves was also the top producer in Norfolk County.
Cape Cod Five Cents Savings Bank, based in Hyannis, was the top producer in Barnstable County with 75 loans for $15.6 million.
Lee Bank, based in Lee, and Berkshire Bank, based in Pittsfield, were co-winners as the top producer in Berkshire County, both with 15 loans for more than $2 million.
Residential Mortgage Services, based in Maine, was the top producer in Bristol County with 23 loans for $4.4 million.
Florence Savings Bank, based in Florence, was the top producer in Hampshire County with 19 loans for $3.8 million.
Rockland Trust, based in Rockland, was the top producer in Plymouth County with 44 loans for $9.8 million.
Mortgage Master, based in Walpole, was the top producer in Suffolk County with 38 loans for $11.1 million.
Bank of Canton, based in Canton, was the top producer in Worcester County with 55 loans for $10 million.
Hampden Bank, based in Springfield, received an Overall Performance Award for making the most loans to low-income borrowers (47 loans, $5.3 million); making the most home improvement second mortgage loans statewide; making the second-most loans to minority borrowers statewide; and making the second most number of loans in Hampden County.
East Boston Savings Bank, based in East Boston, received a Special Achievement Award for making the most loans to minority borrowers (31, $8.2 million).
Pulte Mortgage, a national mortgage lender, received a Special Achievement Award for having the highest percentage of their loans made to low-income borrowers (46 of 53 loans for 87% and $6.7 million in financing).
MassHousing also honored the two top-producing loan originators of first mortgages. Lisa Mish of Hampden Bank originated 42 loans for $6 million in financing. Penny Hamel from Salem Five Mortgage originated 41 loans for $7.8 million.
MassHousing works with a statewide network of more than 150 approved lending partners to make available its diverse suite of affordable mortgage products. The agency provides fixed-rate, 30-year mortgages with low down payments and competitive interest rates. MassHousing’s second mortgages allow homeowners to make general repairs, remove hazardous lead paint, or bring a failing septic system into compliance with the state’s Title V. For more information on MassHousing’s products for homebuyers and homeowners, visit www.masshousing.com/homeownership.
MassHousing (The Massachusetts Housing Finance Agency) is an independent, quasi-public agency created in 1966 and charged with providing financing for affordable housing in Massachusetts. The Agency raises capital by selling bonds and lends the proceeds to low- and moderate-income homebuyers and homeowners, and to developers who build or preserve affordable and/or mixed-income rental housing. MassHousing does not use taxpayer dollars to sustain its operations, although it administers some publicly funded programs on behalf of the Commonwealth. Since its inception, MassHousing has provided more than $16 billion for affordable housing. For more information, visit the MassHousing website at www.masshousing.com, follow us on Twitter @MassHousing, subscribe to our blog and Like us on Facebook.
Eric Gedstad: 617.854.1079 | egedstad (at) masshousing (dot) com
Tom Farmer: 617.854.1843 | tfarmer (at) masshousing (dot) com