Mortgage Law Raises ‘Floodgate’ Concerns for Campbell
A new state law effectively protects BlueHub Capital, a Roxbury nonprofit that was sued in 2020 over predatory lending allegations, from lawsuits over its “shared appreciation mortgage” products.
Healey Signs Law Protecting Nonprofit Lender from Consumer Lawsuit
Gov. Maura Healey’s decision to not veto legislation that shields a Boston non-bank lender being sued by its borrowers is being blasted by the lawyer in the case.
Mass. Legislators Shield Shared Appreciation Mortgage Lenders from Lawsuits
Language shielding lenders of an unusual type of mortgage from lawsuits got included in the state’s big economic development bill this week over the objections of the state’s biggest mortgage-lender trade group.
Personnel File – No. 379
From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s our weekly Personnel File roundup.
Special Session Planned to Pass Biotech, Stadium Bill
Following an appeal from Gov. Maura Healey, the leaders of the House and Senate said late Friday that they are willing to call a special formal session of the Legislature to approve an economic development bond bill.
Lobbying Intensifies on BlueHub Mortgage Amendment
The six-member legislative conference committee trying to find common ground on a wide-ranging economic development bill is also facing heavy lobbying pressure on a narrow provision dealing with a product called a shared appreciation mortgage.
BlueHub Court Battle Shifts to Legislature
A four-year-old court battle between nonprofit lender BlueHub Capital and a group of angry customers is spilling over into the state Senate’s economic development bill.
Building Community Wealth Through Patient Capital
Roxbury-based BlueHub Capital’s Karen Kelleher is seeing no let-up in demand for the lender’s services as an intermediary piecing together financing packages for real estate projects in low-income communities.
140 Housing Units Proposed in Nubian Square
A commercial property near Nubian Square would be redeveloped and expanded with 140 housing units under a pending proposal by a Newton-based firm.
Personnel File – No. 340
Who’s on the move? From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s The Personnel File.
Nubian Square Queues Up for Cranes
While Greater Boston’s life science development boom has transformed many neighborhoods but so far bypassed urban centers such as Roxbury. To change that, developers brought in a relatively unique source of financing.
Personnel File – No. 322
Who’s on the move? From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s the latest installment of Banker & Tradesman’s Personnel File.
Nonprofit Wins Bidding War for Chinatown Property
Advancing housing affordability and stabilization is a long game that requires collaboration, creative solutions, and quick interventions. In February, Asian Community Development Corp. successfully did just that when it acquired an occupied private building in Chinatown.
Nonprofit Hails Rare Win in Chinatown Displacement Battle
The acquisition of a Chinatown apartment building is a milestone for the neighborhood’s attempts to fight displacement and loss of housing affordability, according to a local nonprofit that took ownership this month.
WinnDevelopment Kicks Off New Bedford Mill Reuse Project
Boston-based WinnDevelopment has begun construction of 71 additional units of mixed-income for 55-and-over residents at New Bedford’s Cliftex Mill complex.
Boston Community Capital Rebrands as BlueHub Capital
Boston Community Capital has changed its name to BlueHub Capital to reflect a growing national presence, the company said in a statement.
