MassHousing Honors Top-Producing Lenders for Their Commitment to Affordable Homeownership in Massachusetts

Their excellence helped MassHousing provide more than $1 billion in loans to low- and moderate-income homebuyers and homeowners in 2012

BOSTON – March 8, 2013 – (RealEstateRama) — MassHousing has honored its 2012 top-producing home mortgage lending partners for their commitment to low- and moderate-income homebuyers while helping MassHousing achieve a record lending year for homeownership with more than $1 billion in loans.

MassHousing annually recognizes its highest-producing lending partners for their excellence in promoting and originating MassHousing Mortgage products for Massachusetts residents.

In 2012 MassHousing loaned $1.060 billion to 4,710 low- or moderate-income Massachusetts residents who purchased or refinanced a home. The previous MassHousing record for homeownership lending in a calendar year was $695.5 million in 2009 when the Agency helped 3,573 homeowners.

“MassHousing had a phenomenal lending year in 2012 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 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 2012 include:

Top Producers

NE Moves Mortgage, based in Waltham, was honored for being the top producer of first mortgages statewide. Overall, NE Moves originated 478 MassHousing Mortgages for a total of $118.2 million in financing. NE Moves was also the top producer in Middlesex County (184 loans for $48 million), Norfolk County (67 loans for $17.7 million) and Plymouth County (48 loans for $12 million).

Cape Cod Five Cents Savings Bank, based in Hyannis, was the top producer in Barnstable County with 84 loans for $17 million.

Lee Bank, based in Lee, was the top producer in Berkshire County with 16 loans for $2.5 million.

Residential Mortgage Services, based in Maine, was the top producer in Bristol County (94 loans for $19.2 million) and was fourth overall lender statewide with 266 loans for $63.4 million.

MassHousing Honors Top-Producing Lenders for Their Commitment to Affordable Homeownership in Massachusetts

Mortgage Network, based in Danvers, was the top producer in Essex County (103 loans for $24 million) and Hampden County (57 loans for $8.4 million) and was the second overall lender statewide with 318 loans for $71 million.

Florence Savings Bank, based in Florence, was the top producer in Hampshire County with 19 loans for $3.8 million.

Mortgage Master, based in Walpole, was the top producer in Suffolk County (66 loans for $18.1 million) and was the fifth overall lender statewide with 218 loans for $55.7 million.

Bank of Canton, based in Canton, was the top producer in Worcester County (52 loans for $9 million) and was the ninth top overall producer statewide with 168 loans for $37.8 million. Bank of Canton was also the second top producer of loans statewide to low-income borrowers.

Lowell Cooperative Bank, based in Lowell, was the top producer of loans to low-income borrowers (57 loans for $11 million) and was the 14th overall lender statewide with 100 loans for $23 million.

Leader Bank and Mortgage Company, based in Arlington, was the top producer of loans to minority borrowers (59 loans for $15.9 million) and was the third top overall producer of loans statewide with 281 loans for $75.8 million.

East Boston Savings Bank, based in East Boston, was the second top producer of loans to minority borrowers (31 loans for $7.8 million) and was the 15th top overall producer of loans statewide with 86 loans for $22.8 million.

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

HarborOne Credit Union, based in Brockton, was the top producer of loans for the Get the Lead Out loan program for lead paint removal.

MassHousing works with a statewide network of nearly 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.

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 nearly $14 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.

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