Shant Banosian Is Rate’s New President, But He’ll Still Lead His Team
Banosian originated over $1 billion in mortgage volume last year, mostly in Massachusetts, making him the top loan officer in the country.
With Refis Pricey, HELOCs Kept Customers Satisfied
Prospective home sellers felt trapped in 2023, but watched their equity hit record levels. That made renovations funded by home equity loan products an attractive option – something Massachusetts’ top loan originators were happy to offer.
Winners in a Bad Year
Massachusetts banks, credit unions and mortgage companies all took major hits in residential lending, but there were a few brights spots that helped some lenders come out on top.
With Lower Mortgage Rates 2024 Can Be a ‘Fine Year’ for Residential Lending
The increase in conforming loan limits for 2024 set by the Federal Housing Finance Agency, will make it easier for homebuyers to take on the higher mortgage loans needed to buy a home in a highly priced market like Massachusetts.
Who’s Still Buying Homes in Mass.?
The net result of today’s market conditions: more affluent buyers, young and old, are now dominating the real estate market across the Bay State.
The type of buyers of single-family houses and condominiums in Massachusetts still fall into four main categories: first-time buyers, trade-up buyers, downsizing buyers and “everybody else.” But within those major categories are major shifts about who’s buying or not buying.
Fast and Furious, Mortgage-Style
The ability of lenders to come up with creative new products that seize would-be borrowers’ attention is never-ending. Anything to get a customer in the door.
Experts Say April Home Price Slips Aren’t Sign of Trouble
A new report out Tuesday shows surprising and potentially worrisome data points: single-digit percentage declines in the statewide and Greater Boston median home sale prices.
Homebuyer Competition Returns with Spring
Many market observers believe Massachusetts is headed for another spring of multiple offers and waived contingencies, thanks to how still-high interest rates have stabilized in recent weeks.
2022’s Top Lenders Grabbed Market Share in Tough Year
As mortgage rates drove down refinance activity last year, some of the state’s top lenders saw their long-term strategies bear fruit as they competed for a limited number of homebuyers still in the market.
Brokers Look Beyond Acquisitions to Boost Revenue
The chilly wind blowing through the Massachusetts housing market this fall has pushed brokers to launch a range of initiatives aimed at helping their agents survive and thrive in 2023.
More Brokerage Acquisitions on the Horizon
It’s a tough time to be a residential real estate brokerage right now. Revenue is falling along with numbers of home sales, raising the prospect that not every firm will survive next year.
Guaranteed Rate Partners with Stavvy on E-Closings
Mortgage lender Guaranteed Rate has partnered with Boston-based financial technology company Stavvy to offer electronic closing services for all stakeholders in the mortgage process, including title and settlement agents.
Non-Bank Lenders Move into HELOC Space
While banks and credit unions have long dominated the market for home equity lines of credit, Massachusetts has seen other lenders – both familiar and new – make headway in the second mortgage market amid rapid changes to the industry.
Guaranteed Rate Launches Spanish-Language Mortgage Process
The lender wants to leverage both language and nuanced cultural references to gain customers who speak or prefer to interact only in Spanish.
Refi Market Hasn’t Run Its Course
While mortgage refinancing has dropped off compared to the booming activity that lenders saw in 2020, industry figures say the sector has plenty of life left in it.
Guaranteed Rate’s Banosian Hits $1B in Loans
Boston-based Guaranteed Rate loan originator Shant Banosian has originated $1 billion in loans nationwide this year, the company said, citing internal data that runs through June 15.
Top LOs Grappled with Red-Hot Purchase Market
The pandemic challenged loan originators to find ways to meet the rapidly changing needs of consumers and the real estate industry. And a select few rode this wave to the top of their industry.
Guaranteed Rate LO Sued by Needham Bank Over Client Lists
A state lawmaker from Boston is at the center of a legal dispute between Needham Bank and national lender Guaranteed Rate over allegations that state Rep. Ed Coppinger stole client lists and proprietary loan information from Needham when he left the bank in January.
Guaranteed Rate Creates Two DEI Roles
Mortgage lender Guaranteed Rate has created two new roles to advance its diversity, equity and inclusion efforts.
Staff and Technology Key to Record Loan Volumes
When the economy began to close down a year ago, the mortgage industry faced questions about how the pandemic would affect lending. But as interest rates continued to drop in 2020, lenders soon found that consumers looking to refinance their homes would keep the industry busy.
