Notes from the 1/22 Mortgage Lending Committee Meeting

January 24, 2019

In case you missed the Mortgage Lending Committee Meeting on 1/22/19, details of the meeting are included below.

1) Shirronda Almeida, Director, Mel King Institute, will join our next committee meeting, but don’t miss 2019 offerings – check out the winter class and event list here.

2) Jon Seward, President, MA Association of Housing Cooperatives, discussed the reintroduction of MAHC’s Tenants Right To Purchase bill in the MA legislature. Learn more about a similar law in place in Washington, DC in this CommonWealth Magazine opinion piece.

3) Mark Vanderlinden, Chief Lending Officer of Homewise, walked us through their unique business model, which supports homebuyers through the full life cycle of homeownership.  In addition, he talked about how Homewise uses downpayment assistance to eliminate mortgage insurance and obtain permanent mortgage interest buy-downs of up to two discount points to help low-income borrowers qualify for homeownership. His presentation can be found here: Mass Community Banking Council- Homewise Slides

4) MCBC is forming committee working groups. If you are interested in participating, please complete this brief (2-3 minute) survey  to indicate your interest and availability.  Working groups will be announced at the next meeting.

Our next  Mortgage Lending Committee meeting will be held on Tuesday, February 26 at 9:30 AM at Mass Housing Partnership, 160 Federal Street, Boston. Register here.