Banker & Tradesman: July 8, 2019

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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: Barnstable Spotlight: Truro

IN PERSON

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Winthrop Sargent has had many jobs throughout his career. He has worked as the owner of a consumer products company, a senior consultant at an accounting firm and a contract CFO on several occasions, not to mention his involvement with municipalities.

WEEK OF MONDAY, JULY 8, 2019

BANKING & LENDING BY THE NUMBERS

As national banks pulled back from local mortgage markets in the wake of the 2008 financial crisis, national nonbank lenders and community banks stepped into the void to capture leading positions in Boston-area submarkets.

MORTGAGE LENDING

$1.13 billion The total volume of loans originated by 2018 Greater Boston market leader Guaranteed Rate. See Ian Murphy’s story on this page. Source: The Warren Group’s Marketshare Module

15.98 percent The share of the single-family mortgage market in Barnstable County held by Cape Cod Savings Bank. See By the Numbers on page 6. Source: The Warren Group’s Marketshare Module

15 years UniBank’s new CEO spent 15 years as headmaster of a private high school. See Bram Berkowitz’s story on page 9. Source: UniBank

$4.08 billion The total volume of loans originated by 2007 Greater Boston market leader Bank of America. See Ian Murphy’s story on this page. Source: The Warren Group’s Marketshare Module

LOCAL BANKS, NATIONAL LENDERS FILL MORTGAGE GAP POST-RECESSION IN GREATER BOSTON

$3.4 million

Speed, Convenience and Local Ties Helped Unseat Nation’s Biggest Banks BY IAN B. MURPHY

The mortgage, originated by Bank of America, for the fourth property in this week’s Gossip Report. See page 9. Source: The Warren Group

SPECIAL TO BANKER & TRADESMAN

L

ocal banks and national nonbank lenders have capitalized on new conditions in Greater Boston’s supply-constrained and super-charged housing market, beating out big banks for mortgage marketshare in the decade since the subprime mortgage crisis. Big banks dominated mortgage marketshare across the region in 2007, with some combination of the same four institutions usually locked in place as top lenders in most places: Bank of America, JP Morgan Chase, Wells Fargo, RBS and Citizens Bank. Twelve years later the picture is quite different. Local banks and national nonbank lenders lead loan origination in the 20 cities and towns where home sale prices have grown the most in Massachusetts compared to prerecession median sale prices, according to data from The Warren Group, publisher of Banker & Tradesman.

5.62 percent The marketshare held by the secondbiggets mortgage lender in Barnstable County. See By the Numbers on page 6. Source: The Warren Group’s Marketshare Module

$6.2 billion The size of East Boston Savings Bank’s assets. See Bram Berkowitz’s story on page 9. Source: FDIC

Continued on Page 10

17 Guaranteed Rate holds the largest marketshare in 17 of the 20 Greater Boston communities with the fastest home price growth since 2006. See Ian Murphy’s story on this page. Source: The Warren Group’s Marketshare 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.

RED LINE REBOOT

EXECUTIVE DECISIONS

State Street Buildings Have Uncertain Future

Former High School Headmaster Has Extensive Community Contacts

South Shore Shake-Up

By Steve Adams | Banker & Tradesman Staff

Commercial Real Estate PAGE 7

New UniBank CEO Hired for Relationship Skills By Bram Berkowitz | Banker & Tradesman Staff

Banking & Lending PAGE 9


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