The American Dream Is Wobbling in Massachusetts’ Gateway Cities
They’ve been launching pads for families to obtain a better life. But Massachusetts is neglecting support for homeownership and entrepreneurship.
TD Bank Plans $10B ‘Home Ownership Investment’ Focused on Boston, Five Other Cities
TD Bank’s latest “community impact plan” will see $10 billion worth of residential lending towards low- and moderate-income borrowers and minority borrowers focused on six cities in the bank’s 15-state footprint.
Webster Bank Launches First Special Purpose Credit Program
Webster Bank launched its first special purpose credit program Tuesday, which is aimed at helping low- to moderate-income first-time homebuyers who might not be qualify for traditional home loans.
After Redlining Allegations, Washington Trust Agrees to Diversify Leadership
After being agreeing to settle federal redlining charges for $9 million, Rhode Island-based Washington Trust said it will diversify its executive team and board of directors in an agreement with state officials there.
Healey Veto Would Damage Racial Wealth Gap Efforts, Nonprofits Say
A $1.5 million cut to a state grant program for first-time homebuyer counseling might seem small, but the nonprofit community developers who use the funds say it could gut their work trying to give aspiring homebuyers of color a shot in the ever-more-expensive Massachusetts housing market.
Pandemic Dramatically Boosted Mass. Minority Homebuying
A new analysis of Home Mortgage Disclosure Act data shows the low interest rates homebuyers enjoyed in 2020 and 2021 had an outsized impact on efforts to close the racial home ownership gap in Massachusetts.
Report: IMBs Lend More in LMI, Minority Neighborhoods
Even though the Community Reinvestment Act does not apply to independent mortgage banks, these nonbank lenders provide a higher share of their mortgages in minority and low- and moderate-income neighborhoods than banks do, according to a new report from the Urban Institute.
FHFA Seeks to Up GSE Minority Homebuying Targets
The Federal Housing Finance Agency has proposed new housing goals for Fannie Mae and Freddie Mac that would increase the share of mortgages purchased by the government-sponsored enterprises in minority and low-income neighborhoods.
Latinos Account for 63 Percent of Homeownership Growth in US Since 2008
In the last decade, the number of Latino homeowners in America grew by 1.57 million to 7.87 million homeowners in 2018.
