Banker & Tradesman: Jan. 13, 2020

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MONTHLY TRANSFER DIRECTORY REPORTS

Call 617.896.5388 or email datasolutions@thewarrengroup.com

THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS

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County close-up: Bristol Spotlight: Seekonk

IN PERSON

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From “Telecom City” to a mixed office-residential campus, Preotle Lane & Assoc.’s John Preotle has had to reinvent Medford’s River’s Edge development to ride out multiple boom-and-bust real estate markets.

WEEK OF MONDAY, JANUARY 13, 2020

BANKING AND LENDING BY THE NUMBERS

ALL ABOARD

25 years The Community Reinvestment Act is getting its first overhaul in 25 years. See Diane McLaughlin’s story on this page. Source: Office of the Comptroller of the Currency

$11.4 million

WILL

The Hingham Institution for Savings provided financing for a Roxbury luxury project. See Week on the Web on page 2. Source: Cornerstone Realty Capital

CRA REFORM

2 Residential Mortgage Services Inc. employs the top two loan originators in Bristol County. See By the Numbers on page 6. Source: The Warren Group’s Loan Originator module

HURT BANKS, COMMUNITIES?

1450 The address of Rockland Trust’s latest branch, on Highland Avenue in Needham. See Week on the Web on page 2. Source: Rockland Trust

OCC, FDIC Propose Changes Without Fed’s Support

14.35 percent The share of the residential mortgage market held by the largest player in Bristol County. See By the Numbers on page 6. Source: The Warren Group’s Marketshare module

BY DIANE MCLAUGHLIN BANKER & TRADESMAN STAFF

T

wo federal bank regulators released a proposal in mid-December to revamp the Community Reinvestment Act for the first time in 25 years. But so far, only the Office of the Comptroller of the Currency (OCC), which developed the proposal, and the FDIC have adopted the proposal. The third bank regulator, the Federal Reserve, has not signed on, and housing advocates are raising alarms that it could reduce investment in lower-income communities. “It’s very troubling that in the past, going back to the origins of CRA, the three primary bank regulators have all worked together with shared regulations and shared approaches,” said Clark Ziegler, executive director of the Massachusetts

24 months The term on a loan The Hingham Institution for Savings provided for a new luxury project. See Week on the Web on page 2. Source: Cornerstone Realty Capita

2 Only two federal bank regulators are on board with a proposal to revamp the Community Reinvestment Act. See Diane McLaughlin’s story on this page. Source: The Federal Reserve

Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module

Continued on Page 9

COMMERCIAL INTERESTS

MERRIMACK MOMENTUM

Proposals Would Kill Biotech Growth, Overload Electrical Grid

City Eyes Creation of Two New Business Parks

By Scott Van Voorhis | Banker & Tradesman Columnist

By Steve Adams | Banker & Tradesman Staff

Natural Gas Bans Are Worse Haverhill Seeks to than Useless – They’ll Hurt a Lot Tap Industrial Growth

and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.

Commercial Real Estate PAGE 3

Commercial Real Estate PAGE 7


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