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.
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.
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.
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.
Leader Bank has added a second former First Republic Bank employee to its team focused on banking Greater Boston’s tech sector.
Arlington-based Leader Bank is set to open a new loan office in Mashpee as the bank seeks to expand residential lending operations in the Cape Cod area.
It’s been almost six months since Silicon Valley Bank and First Republic Bank failed but Massachusetts banks are continuing to hire top-tier talent away from the two failed banks’ successors with the intent of bringing in more business to their books.
Arlington-based Leader Bank has become the second Boston-area community bank to intentionally pursue clients in the region’s tech economy with the hiring of eight-year First Republic Bank veteran Vitaliy Schafer.
Last year may have started off with a bang for many Massachusetts loan originators, but the sprint rapidly slowed to a jog, and then a slog, as rising interest rates upended the residential mortgage market.
Who’s on the move? From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s the latest edition of Banker & Tradesman’s Personnel File.
While the banking crisis has raised questions about whether the FDIC should guarantee higher deposit balances, some banks have already found ways to insure their customers’ deposits: the IntraFi Network and similar fintech solutions.
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.
By putting its name on everything from hockey rinks to opera houses, lenders big and small are hoping they can expose their brands to consumers across a wide range of ages and social groups.
Arlington-based Leader Bank has launched an insurance subsidiary, a move the bank said would streamline the homebuying process for its clients.
While surging inflation and mortgage rates stymied the residential mortgage market this year, the industry has greeted the recent increase to next year’s conforming loan limits with optimism.
While Leader Bank’s growth didn’t happen overnight, the last two years have truly marked a new chapter for the bank. Here’s how I and Leader Bank’s committed staff took our bank from $6.5 million to $4 billion in assets and 422 employees across 22 states.
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
Local banks continue to bring on new staff from banks involved in recent mergers and acquisitions, with Arlington-based Leader Bank hiring four former Century Bank employees for its business and government banking team.
After two years where the U.S. mortgage market saw about $4 trillion in loan volumes each year, rising interest rates could mean the home lending industry could be in for a muted 2022. It all depends on prospective homebuyers’ reactions this spring.
Leader Bank Chairman and CEO Sushil K. Tuli has been elected to the Federal Reserve Bank of Boston’s board of directors effective Jan. 1, the Boston Fed said in a statement yesterday.
Eighteen months into the pandemic, the influx of deposits continues. But many lenders are struggling to match this cash with loan growth, creating concern for the coming quarters.