MassHousing Honors 12 Top-Producing Lenders for Their Commitment to Affordable Housing

Bank of Canton recognized as top-producing lender and top minority lender

BOSTON, MA – May 19, 2010 – (RealEstateRama) — MassHousing recently honored 12 of its 2009 top-producing lending partners at the Agency’s annual Homeownership Awards Ceremony.

The annual event recognizes MassHousing’s lending partners for their excellence in promoting and originating MassHousing Mortgage products for Massachusetts residents.

“MassHousing has set new records for lending to homebuyers for three consecutive years and a major part of our success is the excellence and dedication our partner lenders exhibit in providing quality, affordable fixed-rate mortgage loans to low- and moderate-income residents throughout Massachusetts,’’ said MassHousing Executive Director Thomas R. Gleason. “Their commitment to affordable housing has resulted in hundreds 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 lenders honored include:

Top Producers

• Bank of Canton, based in Canton, was honored for being the top producer of first mortgages, the top wholesale producer and the top producer of first mortgages in Norfolk, Suffolk and Worcester counties. Overall, Bank of Canton originated 492 MassHousing Mortgages for a total of $110.5 million in financing. Bank of Canton was additionally honored with a special achievement award for being the top producer of first mortgages to minority borrowers with 70 loans worth $14.1 million.

• NE Moves, based in Waltham, was honored for being the top retail producer of first mortgages. NE Moves was also honored for being the top producer of first mortgages in Essex and Middlesex counties. Overall, NE Moves originated 400 MassHousing Mortgages for a total of $97.4 million in financing.

• Bristol County Savings Bank, based in Taunton, was honored for being the top producer of first mortgages in Bristol County.

• Cape Cod Five Cents Saving Bank, based in Hyannis, was honored for being the top producer of first mortgages in Barnstable County.

• Greenfield Co-Operative Bank, based in Greenfield, was honored for being the top producer of first mortgages in Franklin County.

• Greylock Federal Credit Union, based in Pittsfield, was honored for being the top producer of first mortgages in Berkshire County.

• Hampden Bank, based in Springfield, was honored for being the top producer of first mortgages in Hampden County.

• Holyoke Credit Union, based in Holyoke, was honored for being the top producer of first mortgages in Hampshire County.

• Rockland Trust, based in Hanover, was honored for being the top producer of first mortgages in Plymouth County.

• Harbor One Credit Union, based in Brockton, was honored for being the top producer of loans to remove lead paint through the Get the Lead Out Program.

• Sovereign Bank, was honored for being the top producer of Home Improvement loans.

• Millbury Savings Bank, based in Millbury, was honored for being the top producer of Septic Repair Loans.

MassHousing works with a statewide network of more than 160 approved lending partners to make available its diverse suite of affordable mortgage products. The agency provides fixed-rate, 30-year mortgages with low and no down payments with 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.

About MassHousing
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 $10.4 billion for affordable housing. For more information, visit the MassHousing website at www.masshousing.com.

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Contacts
Eric Gedstad: 617.854.1079 | egedstad (at) masshousing (dot) com
Tom Farmer: 617.854.1843 | tfarmer (at) masshousing (dot) com