MCBC Releases new report, “CRA for Mortgage Lenders, 2008-2015”

May 17, 2016

MCBC’s Mortgage Lending Committee and the MCBC Task Force on CRA for Mortgage Lenders is pleased to announce the release of MCBC’s new report,  “CRA for Mortgage Lenders in Massachusetts, 2008-2015”.

The report 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. The report 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.

The Report and News Release are available on MCBC’s website, or find more info here.

If you have any questions or want more information on MCBC or the report, please contact Dana LeWinter at (800) 982-8268 or via e-mail at dlewinter@mcbc.info.