How’d I miss this story???

From the Globe:

Massachusetts banking regulators said yesterday that Summit Mortgage Corp. has lined up alternative financing for 270 homeowners and buyers who lost their mortgages when the lender closed its doors Thursday.

Summit Mortgage, which generated $1.3 billion loans in 2006, is the largest lender based in Boston to collapse as a result of the nationwide credit crunch.

Richard Fedele, who founded Summit in 1996, said yesterday he laid off all but a handful of 140 employees in nine offices Thursday, and the company quit accepting new applications for mortgages.

That’s big news, in my book.

While the company might not be as big a player as Countrywide, Wells Fargo, or Bank of America, it was very active in the Boston market.

A surprise.

Summit finds financing for pending mortgages – By Kimberly Blanton, The Boston Globe

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Updated: 1st Q 2018

Author Profile

John Ford
John Ford
EXPERIENCE

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.



HISTORY

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.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
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.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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