Hiring star staffers made all the difference for some of Massachusetts’ fastest-growing mortgage lenders. iStock illustration
Having the right talent, meeting customers’ needs and institutional investment proved crucial for Massachusetts’ fastest-growing mortgage lenders this spring.
Workers Credit Union grew its residential mortgage volume by nearly 600 percent in the first two quarters of 2025 compared to the same period in 2024 according to The Warren Group, the publisher of Banker & Tradesman.
The Littleton-based lender made it into Banker & Tradesman’s Fast 50. Compiled from data collected by The Warren Group, the ranking reveals the 50 fastest-growing residential and commercial lenders in Massachusetts for the first six months of the year, compared to the same period a year ago.
Senior Vice President of Retail Lending Alisha Kaliviotis stressed how important hiring the right talent was in Workers Credit Union’s success in 2025.
“I can’t overstate how important this is,” she said. “When someone walks through our doors thinking about buying a home, they’re often overwhelmed, and rightfully so. This might be the biggest financial decision they’ll ever make. Having someone who can sit with them, really listen to their concerns, and walk them through their options step by step? That changes everything.”
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‘Thorough Recruiting’
Liberty Bank, historically primarily known for its business in Connecticut rather than Massachusetts, saw its residential loan volume increase by 378 percent in the first half 2025 compared to the first half of 2024.
Matthew Cammarota, senior vice president and head of retail lending at the Middletown, Connecticut-based bank said that the bank hired talent from the commonwealth as well as two recent hires from Boston.
“Consistent with the bank’s strategy, the bank, several years ago, established a loan production office in in East Longmeadow,” he said. “We’ve been very thoughtful about our recruiting, and we’ve been able to hire some really top performing loan officers and that’s probably the biggest driver.”
By contrast, Natick-based Middlesex Savings Bank didn’t acquire any new talent but rather found success with continued investment in its residential real estate offerings – and from its reputation among past borrowers.
“One of the bank’s strategic goals was to increase our residential loan portfolio this year, and the bank has committed the resources necessary to do so in terms of both capacity and pricing,” Executive Vice President and Chief Retail Lending Officer Jon Auger said. “And we are very fortunate that referrals from our customers are our largest source of new business, so when volume does pick up it can do so quite quickly.”
Middlesex increased the number of residential mortgage loans it made by over 300 percent: from 66 loans in the first two quarters of 2024 to 273 loans in the first two quarters of 2025.
With competition fierce among homebuyers, mortgage lenders have faced pressure to make sure the borrowing process goes smoothly and reliably. iStock illustration
Pressure to Perform for Borrowers
Institutions looking to be successful in residential real estate lending are dealing with plenty of obstacles. Affordability remains an issue for prospective buyers, while mortgage interest rates remain elevated compared to the ultra-low, pandemic-era rates holding a number of would-be sellers in their homes. And economic uncertainty only added to the difficulties financial institutions faced trying to drum up business this spring.
“Market conditions have been challenging overall, but fortunately there are some factors that have actually helped drive more demand for products that we try to focus on,” Auger said. “For example, we have seen an uptick in people that want to remain in their homes and are seeking construction or renovation financing, as well as buyers seeking adjustable-rate financing due to the increased home prices.”
Despite a bump in inventory this spring, the high-pressure homebuying market of the last few years has forced lenders to work harder to make sure the borrowing process goes smoothly.
“When there’s limited inventory, it’s very competitive. When it’s very competitive, one of the most important things is certainty of execution for the buyer, for the seller, for any other party involved in the transaction. They need to know that the loan is going to get done on time, without disruption and that’s what we offer,” Cammarota said. “We’ve spent a lot of time energy resources, ensuring that our processes are set up to meet very tight closing dates, very tight contingency dates and I think that’s one thing that sets us apart.”
The Massachusetts median single-family home price was $687,500 in June 2025, an increase of 3.1 percent over June 2024, The Warren Group reported last month. This lack of affordability and the uncertain economic climate has forced institutions looking to perform well to be creative in their product offerings.
“This year, we saw an opportunity to do even more for them by expanding our offerings with a first-time homebuyer program specifically designed for people taking that exciting first step into homeownership, plus adjustable-rate options for members who want more flexibility,” Workers Credit Union’s Kaliviotis said. “What I’m really proud of is how this lets us sit down with each member and truly customize their experience, because everyone’s situation is different, and they deserve a loan that fits their life, not the other way around.”
Middlesex Savings Bank also saw an opportunity to be more lenient in its pricing and creative in its offerings.
“We are primarily a portfolio lender, and as such are able to offer our customers some unique features and options,” Auger said. “It also allows us a little more consistency and leeway in pricing, and in particular with our adjustable-rate products, which have been increasingly popular as fixed rates have increased over the past several years.”
Sam Minton
Smooth Processes, Better Tech Win
Looking ahead, Workers Credit Union executives are paying attention to interest rates, but are also focused on seeing how they can push to meet customer demands outside of pricing and product design.
“We’re watching interest rates like everyone else, but also we’re making sure we’re evolving with our members’ needs,” Kaliviotis said. “With quickly changing technology, people expect more from their banking experience these days. So, we’re working hard to give them updated tools and technology, while improving processes so that when members call or come in, they’re talking to someone who knows their name and their story. We want every member to feel like a fellow neighbor.”
Cammarota said Liberty Bank’s leaders think they will continue to attract high-producing talent due to their bank’s reputation for smooth and efficient lending processes.
“We hired two individuals in in in Boston, and one very high-producing individual that was looking for a new home and I think our reputation as a 200-year-old-mutual, our ability to execute on time without disruption, and our comprehensive set of products and services to borrowers was very attractive to that individual,” he said. “In a sea of many lenders where he had many choices, he chose Liberty Bank.”
