ORDER TODAY AND SAVE
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
PAGE 6
County close-up: Bristol Spotlight: Seekonk
IN PERSON
PAGE 8
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