Mortgage Network Inc. has announced that four members of the company's Longmeadow, Mass. branch office were recognized as top originators of affordable mortgages through MassHousing during the 2019 fiscal year. Longmeadow Branch Manager Carrie Hamel, Senior Loan Officer Katya Magee, and Loan Officers Katherine Castro Eardley and Kenneth Askins were among the top-selling originators of MassHousing loans to low- and moderate-income residents in Massachusetts between July 1, 2018 and June 30, 2019, the agency said.
Since its inception, MassHousing has provided nearly $22 billion for affordable housing without the use of taxpayer dollars. The agency works closely with lenders, real estate agents and community organizations to provide affordable loans to help families buy, refinance or improve their homes. MassHousing raises capital by selling bonds and lends the proceeds to low- and moderate-income homebuyers and homeowners and to developers who build or preserve affordable or mixed-income rental housing.
According to Brian Koss, executive vice president of Mortgage Network, rising housing prices throughout New England are creating a major obstacle for many would-be homebuyers. The median home price in Massachusetts recently climbed to $400,000, making affordable mortgage programs offered through MassHousing a valuable option for first-time homebuyers.
"Helping first-time buyers with affordable housing has been a primary focus of our company since Mortgage Network was founded," said Koss. "We are proud that four of our originators were recognized for helping low- and moderate-income borrowers, especially when affordability in many areas of Massachusetts, as well as other states, continues to be an issue for many. It's important to supporting affordable housing programs that provide sensible financing options to borrowers who may have trouble buying their own home."