Top Lenders 2021: 2021 Another Record Year for Mortgage Lending in MA
As interest rates held steady at historic lows throughout the pandemic, lenders in 2021 saw a second straight year of mortgage volumes at or near record levels.
As interest rates held steady at historic lows throughout the pandemic, lenders in 2021 saw a second straight year of mortgage volumes at or near record levels.
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.
Although the real estate market is deep into the current cycle, commercial lending did not falter in 2018 and banks were able to achieve strong results by staying in their lanes and sticking to the individualized strategies they have spent years building.
Massachusetts lenders last year continued to be dogged by tight inventory and low interest rates, but those who dominated this year’s Top Lenders invested in staff and technology to drive loan growth.
It’s good to be on top, but in an increasingly competitive and prolonged low-rate environment, the watch words for this year’s Top Lenders might well be “cautious optimism.”
Second verse, same as the first. That refrain might about sum up this year’s Top Lenders, as lenders who started the year apprehensive about interest rates saw rates and loan production more or less hold steady.
Lending in Massachusetts increased across all categories last year as the commonwealth continued its climb out of the economic doldrums. Well, in all but one category, of course: That would be residential refinances, second mortgages, equity loans and home equity lines of credit.
The complete list of Top Lenders 2013.
When it comes to lending in the Bay State, David is giving Goliath a run for his money – quite literally, it seems. Banker & Tradesman’s Top Lenders of 2012 contained few overnight surprises, but instead reflect a steady trend in which community banks are gradually catching up with, and even sometimes outpacing, national giants like Bank of America and TD Bank.
Can you go to your board and tell them how much business you’ll close in the next 30 days, with at least 90 percent certainty?
Top Lenders Of 2012