Mortgage Lending Matters
June 29, 2023
Mortgage Lending Matters and its corresponding Fact Book was prepared by the Chicago-based Woodstock Institute as part of a multi-year research partnership. These reports, based on 2021 Home Mortgage Disclosure Act data, represent one of the most comprehensive looks at mortgage lending in Massachusetts with an emphasis on lending to low- and moderate-income households and persons of color.
Mortgage Lending Report
August 03, 2021
Our 2022 Mortgage Lending Trends report is out!
The report examines mortgage lending and denials by income level, race/ethnicity, and geography as well as by lender.
This year’s report was prepared for MCBC by the UMass Donahue Institute.
Changing Patterns XXV
November 13, 2018
Mortgage Lending to Traditionally Underserved Borrowers & Neighborhoods in Boston, Greater Boston and Massachusetts, 2017
In its 25th annual report on mortgage lending patterns, the Massachusetts Community & Banking Council (MCBC) offers information on patterns of mortgage lending in the City of Boston, in Greater Boston, in Massachusetts, and in thirty-six large cities and towns.
Specifically, the report examines:
- The Level and Composition of Mortgage Lending
- Borrower Race/Ethnicity and Income
- Neighborhood Race/Ethnicity and Income
- Denials of Mortgage Applications
- Lender Activity
- Legislative and Regulatory Developments
In addition to the data in the report, MCBC provides data on all Massachusetts cities and towns in a set of supplemental tables.
An infographic highlighting key data points is also provided.
Changing Patterns XXV was prepared for MCBC by Jim Campen, Professor Emeritus of Economics at UMass Boston.
Changing Patterns XXIV
January 16, 2018
Mortgage Lending to Traditionally Underserved Borrowers & Neighborhoods in Boston, Greater Boston and Massachusetts, 2016
In its twenty-fourth annual report on mortgage lending patterns, the Massachusetts Community & Banking Council (MCBC) offers information on patterns of mortgage lending in the City of Boston, in Greater Boston, in Massachusetts, and in thirty-six large cities and towns. Specifically, the report examines:
- The Level and Composition of Mortgage Lending
- Borrower Race/Ethnicity and Income
- Neighborhood Race/Ethnicity and Income
- Denials of Mortgage Applications
- Lender Activity
- Legislative and Regulatory Developments
In addition to the data in the report, MCBC provides data on all Massachusetts cities and towns in a set of supplemental tables. An infographic highlighting key data points is also provided. Changing Patterns XXIV was prepared for MCBC by Jim Campen, Professor Emeritus of Economics at UMass Boston.
To register for the Changing Patterns XXIV Innovation Forum on Tuesday, January 23, 9-11:30 AM at MassHousing, go to https://melkinginstitute.org/events/innovation-forum-changing-patterns-xxiv
Changing Patterns XXIII
December 20, 2016
Mortgage Lending to Traditionally Underserved Borrowers & Neighborhoods in Boston, Greater Boston and Massachusetts, 2015
In its twenty-third annual report on mortgage lending patterns, the Massachusetts Community & Banking Council (MCBC) offers information on patterns of mortgage lending in the City of Boston, in Greater Boston, in Massachusetts, and in thirty-six large cities and towns. Specifically, the report examines:
- The Level and Composition of Mortgage Lending
- Borrower Race/Ethnicity and Income
- Neighborhood Race/Ethnicity and Income
- Denials of Mortgage Applications
- Lender Activity
- Legislative and Regulatory Developments
In addition to the data in the report, MCBC is also providing data on all Massachusetts cities and towns in a set of supplemental tables. An infographic highlighting key data points is also provided. Changing Patterns XXIII was prepared for MCBC by Jim Campen, Professor Emeritus of Economics at UMass Boston.
Changing Patterns Media Coverage:
CRA for Mortgage Lenders in Massachusetts, 2008-2015
May 17, 2016
A new report released by the Massachusetts Community & Banking Council (MCBC), “CRA for Mortgage Lenders in Massachusetts, 2008-2015” highlights that community reinvestment regulation seems to have had a positive impact on the relative performance of Licensed Mortgage Lenders (LMLs) in meeting the needs of traditionally underserved borrowers and neighborhoods.
In the first report of its kind, MCBC provides information on the state law passed in 2007, which mirrors existing federal and state CRA requirements over depository institutions and calls for lenders to meet the credit needs of low- and moderate-income borrowers and geographies when originating residential loans or acquiring mortgage portfolios in the Commonwealth. These requirements are further elaborated by regulation (see 209 CMR 54.00) whereby the Division of Banks (the Division), as the state regulator overseeing state-chartered and licensed financial institutions, is tasked with the CRA supervision of LMLs.
Changing Patterns XXII
December 21, 2015
Mortgage Lending to Traditionally Underserved Borrowers & Neighborhoods in Boston, Greater Boston and Massachusetts, 2014
In its twenty-second annual report on mortgage lending patterns, the Massachusetts Community & Banking Council (MCBC) offers information on patterns of mortgage lending in the City of Boston, in Greater Boston, in Massachusetts, and in thirty-six large cities and towns. Specifically, the report examines:
- The Level and Composition of Mortgage Lending
- Borrower Race/Ethnicity and Income
- Neighborhood Race/Ethnicity and Income
- Denials of Mortgage Applications
- Lender Activity
- Legislative and Regulatory Developments
In addition to the data in the report, MCBC is also providing data on all Massachusetts cities and towns in a set of on-line tables. Changing Patterns XXII was prepared for MCBC by Jim Campen, Professor Emeritus of Economics at UMass Boston.
Changing Patterns XXI
December 01, 2014
In its twenty-first annual report on mortgage lending patterns, the Massachusetts Community & Banking Council (MCBC) offers information on patterns of mortgage lending in the City of Boston, in Greater Boston, in Massachusetts, and in thirty-three large cities and towns.
Changing Patterns XX
February 01, 2014
In its twentieth annual report on mortgage lending patterns, the Massachusetts Community & Banking Council (MCBC) offers information on patterns of mortgage lending in the City of Boston, in Greater Boston, in Massachusetts, and in thirty-three large cities and towns.
Changing Patterns XIX
December 01, 2012
In its nineteenth annual report on mortgage lending patterns, the Massachusetts Community & Banking Council (MCBC) offers information on patterns of mortgage lending in the City of Boston, in Greater Boston, in Massachusetts, and in thirty-three large cities and towns.
Expanding Homeownership Opportunity II – The SoftSecond Loan Program 1991-2006
September 01, 2007
The SoftSecond Loan Program was developed in 1991 by Massachusetts Bankers Association, the Massachusetts Housing Partnership and the Massachusetts Affordable Housing Alliance to address community concerns highlighted in the 1989 Federal Reserve study citing racial disparities in mortgage lending. This report updates the information presented in Expanding Homeownership Opportunity: The SoftSecond Loan Program, 1991-2003, released by MCBC in 2004.
Borrowing Trouble? VII: Subprime Mortgage Lending in Greater Boston, 2005
January 01, 2007
Six years ago, in response to numerous reports of the growth of predatory lending, the Massachusetts Community & Banking Council (MCBC) – whose Board of Directors has an equal number of bank and community representatives – commissioned a study of subprime refinance lending in the city of Boston and surrounding communities. The resulting report, Borrowing Trouble? Subprime Mortgage Lending in Greater Boston, 1999, was the first detailed look at subprime lending in the city of Boston and in twenty-seven surrounding communities.
This is the seventh report in the annual series begun by that initial study. Over the years, the scope of the report has greatly expanded. In response to the growing importance of subprime lenders in home-purchase lending, coverage has broadened to include home-purchase loans in addition to loans made to refinance existing mortgages. Also, geographic coverage has broadened to include data on subprime lending in 108 individual cities and towns as well as in all counties, metropolitan statistical areas, and regional planning areas in Massachusetts.
Borrowing Trouble? VI: Subprime Mortgage Lending in Greater Boston, 2004
March 01, 2006
Five years ago, in response to numerous reports of the growth of predatory lending, both locally and nationwide, the Massachusetts Community & Banking Council (MCBC) – whose Board of Directors has an equal number of bank and community representatives – commissioned a study of subprime refinance lending in the city of Boston and surrounding communities. The resulting report, Borrowing Trouble? Subprime Mortgage Lending in Greater Boston, 1999, was the first detailed look at subprime lending in the city of Boston and in twenty-seven surrounding communities.
This is the sixth report in the annual series begun by that initial study. Geographic coverage has now expanded to include data on subprime lending in 108 individual cities and towns and the reports now cover subprime home purchase loans in addition to subprime loans made to refinance existing mortgages. This year’s report utilizes information on the pricing of high-cost subprime loans that became available for the first time in the Home Mortgage Disclosure Act data for 2004.
Borrowing Trouble? V: Subprime Mortgage Lending in Greater Boston, 2000-2003
January 01, 2005
Four years ago, in response to numerous reports of the growth of predatory lending, both locally and nationwide, the Massachusetts Community & Banking Council (MCBC) – whose Board of Directors has an equal number of bank and community representatives – commissioned a study of subprime refinance lending in the city of Boston and surrounding communities. The resulting report, Borrowing Trouble? Subprime Mortgage Lending in Greater Boston, 1999, was the first detailed look at subprime lending in the city of Boston and in twenty-seven surrounding communities.
This is the fifth report in the annual series begun by that initial study. Geographic coverage has expanded to include data on subprime lending in 108 individual cities and towns. This is the first year that the report has examined subprime home purchase loans in addition to subprime loans made to refinance existing mortgages.
Expanding Homeownership Opportunity – The SoftSecond Loan Program 1991-2003
July 01, 2004
The SoftSecond Loan Program was developed in 1991 by Massachusetts Bankers Association, the Massachusetts Housing Partnership and the Massachusetts Affordable Housing Alliance to address community concerns highlighted in the 1989 Federal Reserve study citing racial disparities in mortgage lending. This report looks at SoftSecond loan activity and performance statewide and is an expansion of the information included in Changing Patterns.
Borrowing Trouble? IV: Subprime Mortgage Lending in Greater Boston, 2000-2002
February 01, 2004
Three years ago, in response to numerous reports of the growth of predatory lending, both locally and nationwide, the Massachusetts Community & Banking Council (MCBC) – whose Board of Directors has an equal number of bank and community representatives – commissioned a study of subprime refinance lending in the city of Boston and surrounding communities. The resulting report, Borrowing Trouble? Subprime Mortgage Lending in Greater Boston, 1999, was the first detailed look at subprime lending in the city of Boston and in twenty-seven surrounding communities. The present report is the fourth in the annual series begun by that initial study; it extends the time period covered through 2002, and expands the number of individual cities and towns for which data on subprime refinance lending are provided to 108.
Borrowing Trouble? III: Subprime Mortgage Lending in Greater Boston, 1999-2001
January 01, 2003
Two years ago, in response to numerous reports of the growth of predatory lending, both locally and nationwide, the Massachusetts Community & Banking Council (MCBC) — whose Board of Directors has an equal number of bank and community representatives — commissioned a study of subprime lending in the city of Boston and surrounding communities. The resulting report, Borrowing Trouble? Subprime Mortgage Lending in Greater Boston, 1999, was the first detailed look at subprime lending in the city of Boston and in twenty-seven surrounding communities. The present report is the third in the annual series begun by that initial study; it covers a larger geographical area than its predecessors and extends the time period covered through 2001.
Borrowing Trouble? II: Subprime Mortgage Lending in Greater Boston, 1999-2000
December 01, 2001
Last year, in response to numerous reports of the growth of predatory lending, both locally and nationwide, the Massachusetts Community & Banking Council (MCBC) — whose Board of Directors has an equal number of bank and community representatives — commissioned a study of subprime lending in the city of Boston and surrounding communities. The resulting report, Borrowing Trouble? Subprime Mortgage Lending in Greater Boston, 1999, was the first detailed look at subprime lending in the city of Boston and in twenty-seven surrounding communities. The present report updates that initial study with data on subprime mortgage lending during the year 2000.
Borrowing Trouble?: Subprime Mortgage Lending in Greater Boston, 1999
February 01, 2001
In response to numerous reports of the growth of predatory lending, both locally and nationwide, the Massachusetts Community & Banking Council (MCBC) commissioned this study of subprime lending in the city of Boston and surrounding communities.
Expanding Home Ownership Opportunities: Recommendations to Increase the Number of Latino Home Buyers
March 01, 1999
Latinos constituted 10.8% of the population in Boston in 1995 but received only 6.3% of all mortgage loans between 1992 and 1996. Mortgage lending data shows that the relatively low level of lending to Latinos is primarily the result of a low level of applications. To address this disparity, the Massachusetts Community & Banking Council’s (MCBC) Mortgage Lending Committee established a Task Force on Latino Mortgage Lending to develop recommendations and strategies to increase the level of mortgage applications from Latinos and mortgage loans made to Latinos in the Greater Boston area.