Banker & Tradesman: June 22, 2020

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MONTHLY TRANSFER DIRECTORY REPORTS

Call 617.896.5388 or email datasolutions@thewarrengroup.com

THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS

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County close-up: Worcester Spotlight: Lunenburg

Damien Chaviano is pushing one of Newton’s largest-scale development proposals toward the finish line after a contentious, three-year debate. In January, city councilors unanimously approved a zoning amendment that clears the way for Wellesley-based Mark Development to build over 1 million square feet of commercial and multifamily space.

IN PERSON

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WEEK OF MONDAY, JUNE 22, 2020

BANKING & LENDING BY THE NUMBERS

5.67 percent Draper and Kramer Mortgage Corp. holds a 5.67 percent marketshare in Worcester County. See By the Numbers on page 6. Source: The Warren Group’s Marketshare Module

$1.7 billion Eastern Bank hopes to raise up to $1.7 billion by going public. See Week on the Web on page 2. Source: Eastern Bank

0 A federal judge has stopped enforcement of Attorney General Maura Healey’s emergency restrictions on debt collection. See Thomas Curry’s column on page 5. Source: Judge Richard Stearns

T O P L E N D E R S B Y C AT E G O R Y

PANDEMIC PUTS FHA LENDING IN FLUX BANKS TOP LENDERS ARM

1 HarborOne Mortgage was the top HELOC lender in Massachusetts in 2019. See Diane McLaughlin’s story on this page. Source: The Warren Group’s Marketshare Module

4 percent In going public, Eastern Bank will give its foundation a 4 percent equity interest in the company. See Week on the Web on page 2. Source: Eastern Bank

2 Envision Bank is the secondmost-prolific FHA lender in Massachusetts. See Diane McLaughlin’s story on this page. Source: The Warren Group’s Marketshare Module

5 Salem Five Bank was the fifth-most prolific VA lender in Massachusetts in 2019. See Diane McLaughlin’s story on this page. Source: The Warren Group’s Marketshare Module

2,679 The number of home sales in Worcester County through May 31. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module

Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.

1 First Republic Bank 2 Bank of America, N.A. 3 Wells Fargo Bank, N.A. 4 US Bank, N.A. 5 RBS Citizens Bank, N.A. FHA

1 USAA Federal Savings Bank 2 Envision Bank 3 Salem Five Bank 4 Rockland Trust Co. 5 Leader Bank, N.A. HELOC

1 RBS Citizens Bank, N.A. 2 Bank of America, N.A. 3 Eastern Bank 4 Santander Bank, N.A. 5 TD Bank, N.A. VA

1 USAA Federal Savings Bank 2 Federal Savings Bank 3 North American Savings Bank 4 Leader Bank, N.A. 5 Salem Five Bank • Covers residential mortgages only. Ranked by dollar volume of loans. • Source: The Warren Group’s Marketshare Module

COMMERCIAL INTERESTS

For Lenders, a Product Key to Serving First-Time Buyers BY DIANE MCLAUGHLIN BANKER & TRADESMAN STAFF

E

ven with Greater Boston’s low inventory of homes for sale and high housing prices, firsttime homebuyers still found ways into the housing market last year, including with the assistance of government-insured mortgages. Loans offered through the Federal Housing Administration made up almost 10 percent of Massachusetts’ residential purchase mortgages in 2019, according to The Warren Group, publisher of Banker & Tradesman. With lower down payment and credit requirements compared to other mortgages, FHA loans have been a key resource for first-time homebuyers. But during the economic crisis caused by the coronavirus pandemic, investors have raised their criteria for purchasing these loans on the secondary market, causing lenders to adjust their own underwriting standards. Continued on Page 8

NEXT STEPS

Zillow, Redfin Rise as Fair Housing Struggles Pandemic Shakes Far from Over Seeks More Enforcement, Traditional Brokerage Stocks Report Higher Affordability Goals Wall Street Has Taken a Shine to Upstarts’ Tech

By Steve Adams | Banker & Tradesman Staff

By Scott Van Voorhis | Banker & Tradesman Columnist

Commercial Real Estate PAGE 3

Commercial Real Estate PAGE 7


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