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.
We are hiring a Community Organizer! Come join our dedicated team of community organizers.
MAHA was established in 1985 and is dedicated to increasing resources for affordable housing, breaking down barriers for first-time and first-generation homebuyers, and closing the racial homeownership gap in Massachusetts.
Want more affordable homes in Boston? Join us Wednesday, May 24th at 6:30pm to talk with J. Arthur Jemison, Director of Boston Planning & Development Agency and Sheila Dillon, Chief of Housing for the City of Boston. We will be discussing the Dorchester Bay City project and the contruction of new affordable homes in the city.
Click here to register.
