While the state’s regional banks face liquidity pressures and have tightened their credit standards so far this year, Massachusetts’ smaller credit unions and mutual banks saw skyrocketing growth in commercial loan volumes in the first six months of the year.
Local lenders have emerged as big winners from the 65 percent year-over-year- growth in commercial mortgage volumes statewide this year. But the risk of a recession is causing some to grow more cautious.
It’s Banker & Tradesman’s annual Fast 50, where we rank the fastest-growing commercial and residential mortgage lenders in Massachusetts. Who’s on top? How’d they do it?
While some of the names on this year’s list of Fast 50 lenders may be relatively new in the Massachusetts market, many of the faces behind those lenders carry years of experience in the state’s mortgage industry.
Several mortgage companies off to a fast start in 2019 are finding success with similar strategies: they empower their brokers and loan officers with good processing technology and a positive office culture, allowing them to focus solely on customer service.
The Fast 50, compiled from data collected by The Warren Group, publisher of Banker & Tradesman, reveals the 50 fastest-growing lenders in Massachusetts for the first six months of the year, compared to the same time period a year ago.
In an ultra-prolonged, ultra-low interest rate environment, some Massachusetts financial institutions are still beefing up their loan portfolios.
How low can you go? Just when it looked like interest rates couldn’t get much lower, they jumped a full percentage point in June. While that’s a positive sign for banks squeezed by razor-thin margins, it also means the robust refi market’s days are numbered.
