Their excellence resulted in more than $1 billion in MassHousing home mortgage financing to nearly 5,000 low and moderate-income homebuyers and homeowners in 2013
By Tom Farmer
Corporate Communications, MassHousing
BOSTON - MassHousing has honored its 2013 top-producing partner 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 (113 loans, $26.8 million), Hampden (67 loans, $10.7 million) and Middlesex Counties (118 loans, $30 million).
NE Moves Mortgage, based in Waltham, was honored for providing the highest amount of MassHousing financing statewide - $82.4 million – from 338 loans. NE Moves was also the top producer in Norfolk County (51 loans, $13.6 million).
Cape Cod Five Cents Savings Bank, based in Hyannis, was the top producer in Barnstable County with 75 loans for $15.6 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, based in Colorado, received a Special Achievement Award for having the highest percentage of their loans made to low-income borrowers (46, $6.7 million of 53 loans, 87%).
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.