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Mortgage Equity Partners (MEP) staffers recently joined with industry colleagues from Rebuilding Together Boston and the Massachusetts Mortgage Bankers Association to rebuild the home of a 77-year-old widow of a disabled veteran in the Dorchester section
Mortgage Equity Partners (MEP) staffers recently joined with industry colleagues from Rebuilding Together Boston and the Massachusetts Mortgage Bankers Association to rebuild the home of a 77-year-old widow of a disabled veteran in the Dorchester section of Boston. The homeowner and her husband purchased the home at auction in 1994. Unfortunately, her husband succumbed to cancer in 2004, and since then, she has struggled to maintain the property, having suffered from multiple health challenges.
 
Volunteers joined forces to assist this deserving family, as the combination of volunteers and generous financial contributions were responsible for the following home improvements: A new kitchen with new appliances; installation of windows; installation of new doors; indoor painting/repair of rooms/railings; landscaping/new patio/and painted gate; rebuilt porch roof and ceiling; plumbing and electrical work; health and safety updates; and much more.
 
“I had no idea what to expect when I signed up for this project, but it just felt like the right thing to do,” said Shawn P. McGee, Renovation Lending Manager at Mortgage Equity Partners. “I have quite a bit of experience in the home renovation field and I wanted to be able to help. The nice thing is that we had no idea who we would be helping or where we would be going when we volunteered, but this situation and this family really touched my heart. I was happy to help the family of a veteran.”

 
Mortgage Network Inc. has announced that Aaron Benton has joined the company's Hilton Head, S.C. branch as a Loan Officer
Mortgage Network Inc. has announced that Katherine Castro Eardley has joined the company as a Senior Loan Officer in its Burlington, Mass. branch. Katherine brings to Mortgage Network more than 10 years of mortgage banking Mortgage Network Inc. has announced that Katherine Castro Eardley has joined the company as a Senior Loan Officer in its Burlington, Mass. branchexperience. She is current chair of the YWCA of Northeastern Massachusetts.
 
"We are happy to have someone with Katherine's track record, experience and community involvement in the Boston area join our team," said Jane Stanton, Mortgage Network District Manager in the Burlington branch.
 
Katherine describes the local real estate market as an "aggressive and competitive market where time is of the essence." However, "while I want my customers to react swiftly when an opportunity arises, I also advise them to be diligent in their research on the property, real estate agent and lender they choose."

 
 
 
Mortgage Network Inc. has announced that Aaron Benton has joined the company's Hilton Head, S.C. branch as a Loan Officer
Mortgage Network Inc. has announced that Luke Ostrowski has joined the company as a Sales Manager and Senior Loan Officer in its Boston branch, serving southeastern Massachusetts.
 
Ostrowski brings more than 15 years of mortgage Mortgage Network Inc. has announced that Luke Ostrowski has joined the company as a Sales Manager and Senior Loan Officer in its Boston branch, serving southeastern Massachusettsbanking experience to Mortgage Network, most recently with U.S. Bank, where he was a Private Wealth Mortgage Banker. He has worked for a variety of mortgage companies and banks in the Boston area.
 
"We are happy to have someone with Luke's track record and long experience serving the Boston area join our team," said Ben McKillop, Manager of the Boston branch.
 
Ostrowski said, "I have a reputation in the industry for finding mortgage loans for borrowers in challenging circumstances, and that's what it takes in this very competitive housing market. Fortunately, I have a great team behind me at Mortgage Network, which is why I joined the company.

 
CBRE Group Inc. has acquired CB Richard Ellis-N.E. Partners LP (CBRE/New England), a long-standing joint venture with Whittier Partners Group
CBRE Group Inc. has acquired CB Richard Ellis-N.E. Partners LP (CBRE/New England), a long-standing joint venture with Whittier Partners Group and the largest full-service commercial real estate services operation in New England. The terms of the acquisition were not disclosed.
 
The CBRE/New England team has joined CBRE immediately, although the CBRE/New England brand will remain in place through the end of the year. CBRE/New England manages more than 100-million square feet of commercial property and corporate facilities and has more than 1200 employees spread across seven offices throughout the five-state New England region.
 
“We are very excited to fully integrate our market leading regional platform into CBRE, the industry’s leader in commercial real estate services,” said Andy Hoar, President and Co-Managing Partner at CBRE/New England. “We felt the timing was right for this transition to better serve our clients and our employees.”

 
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Mortgage Network Inc. has announced that Aaron Benton has joined the company's Hilton Head, S.C. branch as a Loan Officer
Mortgage Network Inc. has announced that Zak Kornbliet has joined the company's Wellesley, Mass. branch as a Loan Officer. Kornbliet is a graduate of Mortgage Network's Mortgage Banker in Training (MBIT) program, which allows highly motivated Loan Officer candidates to learn all aspects of the mortgage business. MBIT trainees are exposed to every job position at the company and must master each step of the loan process in addition to completing online coursework and Mortgage Network Inc. has announced that Zak Kornbliet has joined the company's Wellesley, Mass. branch as a Loan Officerpreparing for their licensing examination.
 
Based in Danvers, Mass., Mortgage Network is celebrating its 30th year in business this year. The company has now grown to over 450 employees, with 49 branch offices licensed in 27 states.
 
"The extensive training Zak received through our MBIT program means his customers can expect the best and most knowledgeable service and attention," said Mike Burke, Mortgage Network District Manager. "He's a great addition to our Massachusetts origination team."
 
In addition to the training he received in the MBIT program, Kornbliet has been surrounded by the mortgage business from an early age.
 
"I knew that someday I would want to follow in my dad's footsteps and become a Mortgage Banker myself," Kornbliet said. "My goal is to help as many people as I can while making the homebuying and mortgage process feel as stress-free as possible. If there was one thing that I learned while growing up in the mortgage business, it is that the customer always comes first. The Mortgage Network team provides the absolute best experience that the mortgage banking industry has to offer. The company's 98 percent customer satisfaction rating is evidence that the leadership and culture here are second to none."

 
MassHousing (The Massachusetts Housing Finance Agency) has promoted Mounzer M. Aylouche to the newly created position of Vice President of Homeownership Programs
MassHousing (The Massachusetts Housing Finance Agency) has promoted Mounzer M. Aylouche to the newly created position of Vice President of Homeownership Programs. Aylouche, who was previously manager of homeownership MassHousing (The Massachusetts Housing Finance Agency) has promoted Mounzer M. Aylouche to the newly created position of Vice President of Homeownership Programsbusiness development, will be responsible for overseeing the agency’s homeownership business, including production, lending operations and servicing.
 
Aylouche has been with MassHousing for 20 years and previously served as a Secondary Marketing Officer and Relationship Manager in the Agency’s homeownership division. He is also a Past Chairman of the Massachusetts Mortgage Bankers Association and a Past President of the MMB Foundation, the charitable arm of the organization.
 
“MassHousing’s homeownership division remains committed to fostering sustainable homeownership, ensuring that our borrowers succeed in the long-term,” said Aylouche. “Our success is a testament to years of hard work by team members from across our Agency. We remain committed to working creatively, expanding homeownership opportunities, and increasing access to credit for low- and moderate-income households across the Commonwealth.”

 
Massachusetts single-family home sales were down last month, but the median sales price was on the rise, according to new data from The Warren Group
Massachusetts single-family home sales were down last month, but the median sales price was on the rise, according to new data from The Warren Group.
 
The median single-family sale price in Massachusetts during May was up $394,000, up 6.5 percent from $370,000 in May 2017. On a year-to-date measurement, the median price rose 5.2 percent to $365,100.
 
In contrast, the 5,288 single-family home sales recorded in Massachusetts represented a 2.1 percent drop from May 2017; last month also saw the fewest number of sales during for May since 2016. Year-to-date, 19,294 single-family home sold across Massachusetts, a decline of 2.2 percent from the same period one year earlier.
 
“The Massachusetts median sale price has now increased for 26 consecutive months on a year-over-year basis,” said Tim Warren, CEO of The Warren Group. “Given the scale of recent increase in the median sale prices, when paired with a serious lack of inventory, it seems certain that home prices will continue to rise. I wouldn’t be surprised if in the near future the median single-family home price exceeds $400,000 for the first time in history.”
 
In the condominium market, last month saw 2,447 sales, a 4.5 percent increase from a year earlier and the most sales recorded during the month of May since 2007. The median condo price in Massachusetts was $379,000, up 4.8 percent from $361,750 a year earlier. Year-to-date, condo sales increased 4.6 percent with 8,872 transactions versus the same period last year, while the median price rose 10.5 percent to $367,500.
 
“The double-digit price gain among condos on a year-to-date basis is truly impressive,” Warren added. “However, we need to remember that the gain is mostly fueled by a condo boom in the Boston metro area.”

 
Mortgage Network Inc. has announced that Aaron Benton has joined the company's Hilton Head, S.C. branch as a Loan Officer
Mortgage Network Inc. has been named one of the best places to work in Massachusetts by The Boston Business Journal. The newspaper's rankings celebrate 80 outstanding companies whose employees rate them as the best in the greater Boston area.
 
Each year, The Boston Business Journal compiles the annual list based on employee surveys that measure key areas including: compensation and benefits, trust in senior leadership, and the level of engagement exhibited by employees. The winners are based 100 percent on the scientifically created employee surveys. The Boston Business Journal will hold an awards celebration to honor the top employers in the Boston area at Boston's Symphony Hall on Wednesday, June 20.
 
"We're honored to be recognized as one of the Best Places to work in Massachusetts," said Mortgage Network Co-Founder and Chief Executive Officer Robert McInnes. "Attracting and keeping top Loan Originators has been vital to our ability to deliver superior value to our mortgage customers, and in turn, key to our success as a company. Customer surveys tell us that 98 percent of our borrowers would recommend Mortgage Network to their family or friends, so we're keeping both our employees and our borrowers happy."

 
Frank O’Donnell, Senior Regulatory Compliance Analyst-Project Coordinator/AVP; Dennis Hardiman Embrace Home Loans CEO; and Claudia Mobilia, Senior Vice President of Operations (photo credit: Charlotte Saul)
Embrace Home Loans recently held its first-ever sales conference in Newport, R.I. More than 300 Loan Officers, Processors and other industry professionals learned productivity, social media, marketing and personal growth strategies.
Attendees learned how to leverage Embrace's MBS Highway sales tool to increase production and how to leverage new loan programs, such as HomeReady for low- and moderate-income buyers.
 
Steve Richman, a highly recognized sales trainer with Genworth Mortgage Insurance, spoke about the need for mortgage professionals to avoid common business clichés and the need to focus on updating their business plans to improve communication and differentiate themselves from competitors.
 
In the photo above, Embrace conducted a Charity Happy Hour, where attendees voted for vendor’s choice of charitable organization. The organization that won the most votes was the Keri Anne O’Donnell Memorial Fund, which provides scholarships and grants for young people to further their education in the performing arts. Pictured here, from left to right: Frank O’Donnell, Senior Regulatory Compliance Analyst-Project Coordinator/AVP; Dennis Hardiman Embrace Home Loans CEO; and Claudia Mobilia, Senior Vice President of Operations (photo credit: Charlotte Saul).

 
MassHousing (The Massachusetts Housing Finance Agency) has promoted Mounzer M. Aylouche to the newly created position of Vice President of Homeownership Programs
The Massachusetts Housing Finance Agency (MassHousing) has introduced a downpayment assistance program that will enable qualified first-time homebuyers the opportunity to finance up to 100 percent of the purchase price of their first home.
 
MassHousing currently finances up to 97 percent of a home purchase price. With this new program, the agency is making downpayment assistance loans available to first-time homebuyers with annual household incomes at or below the area median income. Eligible households will earn $103,4000 or less in eastern Massachusetts, $85,700 in Worcester County, and $67,200 in Berkshire County. Homebuyers must still meet MassHousing’s underwriting criteria, including minimum credit score and debt-to-income (DTI) qualifications, and attend a homeownership education class.
 
“Record-low inventory levels, rising home prices, high rents, and student loan debt are all making it more difficult for the average Massachusetts household to afford to purchase a home,” said MassHousing Executive Director Chrystal Kornegay. “MassHousing’s new downpayment assistance program will help ensure that homeownership remains accessible to working families, by allowing creditworthy homebuyers to buy their first home with little to no downpayment requirement. By boosting the buying power of low-, moderate- and middle-income households, MassHousing will support investment in neighborhoods, help the state’s workforce remain rooted in Massachusetts, and advance the Agency’s mission of confronting housing challenges facing the Commonwealth, to improve the lives of its people.”