Of the 66 CRA ratings awarded to Massachusetts banks during 2023, fourteen (21.2%) were “Outstanding,” according to a report by the Massachusetts Affordable Housing Alliance (MAHA). This percentage is substantially above the average percentage of “Outstanding” ratings during the preceding nine years (14.4%). For federal regulators, the “Outstanding” share was 25.0% (10 of 40 ratings, including 5 of 9 the ratings by the OCC); for the state, the “Outstanding” share was 15.4% (4 of 26).
Last week, MHP’s ONE Mortgage hit a milestone: 25,000 low- and moderate-income families have bought their first home with ONE Mortgage! This achievement reminds us of where it all started. It was 1991, the SoftSecond loan program had just launched, and Florence Hagins wanted to buy her dream home.
Partnership for Financial Equity released First-Gen Home: A Massachusetts Finanacial Equity Innovation Story today, a report on the emergence of housing assistance programs that prioritize first-generation homebuyers starting in Dorchester with Massachusetts Affordable Housing Alliance's STASH program. Since 2019, the concept has taken off and now there are eleven locations across the country that have first-generation programs.
As 2020 winds to close, a couple of things are clear. COVID-19 is still with us and and a return to our pre-pandemic patterns is not wise. And our live Zoom-based homebuyer and homeowner classes are popular! We are on track to graduate more homebuyers than at any time in our 30 year history of offering homeownership education. That is why this decision is an easy one. MAHA will continue to offer a full schedule of live Zoom classes through, at least, June 2021 and perhaps beyond. Sign up today.
Friday, February 7, 2020 - Building on his commitment to create and preserve affordable housing in Boston, Mayor Martin J. Walsh today announced $69.2 million in new and recommended funding from the Department of Neighborhood Development, the Neighborhood Housing Trust, and the Community Preservation Fund to create and preserve 1,097 units of housing in Brighton, Chinatown, Dorchester, East Boston, Hyde Park, Jamaica Plain, Mattapan, Roslindale, Roxbury and West Roxbury.
