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.

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.

2019: The Year of the Refi

Once mortgage rates dropped by more than 50 points over May and June last year, whatever lenders had forecast at the beginning of the year, they soon pivoted, leading to one of the biggest surges in refi activity since the Great Recession. 

Competitors Apply Pressure to FHA and VA Loan Origination

While many financial institutions have seen success originating loans guaranteed by the U.S. Department of Veteran Affairs and Federal Housing Administration, the products face competition and challenges from rising home values and similar products created by other entities.