Much has been written in recent months about perspective buyers who’ve had trouble qualifying for mortgage loans despite solid credit scores. Strict underwriting standards have essentially reduced the buying pool.
But borrowers are managing to get loans. Which institutions are doing the most lending in Massachusetts?
If you guessed biggies like Bank of America, Citizens and Countrywide, you’re right. Bank of America, which has issued 273 purchase loans so far this year, ranks first in purchase loans and fifth for refinancing activity, according to The Warren Group.
Countrywide comes in second and third for purchase loans and refinancings, respectively.
And Mortgage Master Inc., with 1,477 loans totaling nearly $62 million, ranks top overall.
What’s interesting, however, is that in this environment smaller entities are starting to grab a bigger share of the market. Salem Five Cents Mortgage currently ranks as 7th overall for purchase and refinance loans, lending over $197 million.
Back in 2007, before some mortgage companies were wiped out, Salem Five Cents ranked 21. That’s quite a jump in business.
Source: Banker & Tradesman
Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs
In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.
For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.
Charles River Park
Surrounding Communities of Boston
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.
Ford Realty Inc
137 Charles Street
Boston, Ma 02114