Banker & Tradesman, June 12, 2017

Page 1

SUBSCRIBE TODAY! VISIT WWW.TRYRERS.COM Est ab li s h e d 1 8 7 2

the

www.bankerandtradesman.com

WEEK OF MONDAY, JUNE 12, 2017

financial

services

and

real

estate

weekly

for

massachusetts

A Publication of The Warren Group BRAND BAPTISM RECORD HIGHS

AUTO LOAN BALANCES HIT RECORD HIGHS LOAN TERMS CREEP UPWARDS AND CREDIT UNIONS MAKE INROADS

A Name For A Place

AUTO LOANS BY THE NUMBERS AVERAGE CONSUMER CREDIT SCORE, NEW-CAR LOAN 1Q 2015

Developers Seek Distinct Identities

1Q 2016

715

712

BY STEVE ADAMS BANKER & TRADESMAN STAFF

I

1Q 2017

717

AVERAGE CONSUMER CREDIT SCORE, USED-CAR LOAN 1Q 2015

1Q 2016

642

645

1Q 2017

652

n a building boom of historic proportions, it’s harder than ever for developers to stand out from the crowd. It’s no longer sufficient to slap a number one or 100 in front of a street name when repositioning a tired office building or christening a new luxury high-rise. When Boston-based marketing agency KHJ Brand Activation was hired by developer Synergy Investments to rebrand five Downtown Crossing office buildings, KHJ interviewed existing tenants to gauge their perception of the properties and neighborhood. The eventual choice from a list of 25 options –“The Hive,” with an orange honeycomb-inspired logo – reflected the freewheeling culture of the tech and creative economy tenants, said Mike Panagako, a KHJ vice president who runs the company’s real estate practice. Continued on Page 9 LOBBYING THE LEGISLATURE

AVERAGE LOAN AMOUNT, NEW-CAR LOAN 1Q 2015

$28,711

1Q 2016

$30,032

1Q 2017

$30,534

BY CHRISTINA P. O’NEILL SPECIAL TO BANKER & TRADESMAN

A

uto loan balances have reached a record high, fueled by steady sales growth in the post-recession economy. And as auto prices rise, auto loan terms are getting longer. Are consumers becoming overleveraged in their car purchases? Not necessarily, say auto lenders and industry experts. Subprime auto lending, which ramped up significantly after the recession, hit the brakes last year as big banks, fearing a runup in delinquencies, pulled back and went in search of consumers with higher credit scores for both new and used vehicles, according to the most recent quarterly auto finance report from Experian, which follows trends and fiscal health in the automotive finance market. While vehicle prices continue to rise, a surge in off-lease volume is depressing vehicle value, said Melinda Zabritski, Experian’s senior director of automotive finance. Experian reported subprime auto lending reached a 10-year record low for first-quarter numbers as of first quarter 2017. Continued on Page 10

MAR Headed To Beacon Hill To Promote Housing Initiatives Some Legislative Changes Could Be A Tough Sell BY JIM MORRISON BANKER & TRADESMAN STAFF

LOAN DELINQUENCY, 30 DAYS 1Q 2015

1Q 2016

2%

2.1% 1Q 2017

1.96% SOURCE: EXPERIAN

CONTENTS

Residential ��������������������������������������������������������������� 8

SPECIAL SECTION

Points ����������������������������������������������������������������������� 4

Commercial & Industrial ������������������������������������������ 9

Top Loan Originators ���������������������������������������������� B1

By The Numbers ������������������������������������������������������� 6

Banking & Lending ������������������������������������������������� 10

In Person ������������������������������������������������������������������ 7

Classified Sections ������������������������������������������������� 11

Records Section ����������������������������������������������������� C1

T

he Massachusetts Association of Realtors (MAR) is heading to the Statehouse this week to promote its agenda aimed at increasing real estate sales across the state. There are seven items on the agenda ranging from statewide zoning reform to opposing real estate transfer taxes, but not everyone is on board with the association’s proposals. Passing Bill S. 94 is a high priority for MAR. The bill seeks to ease the production of cluster development housing, allowing in-law apartments and multifamily housing construction by right, and ease variance burdens and special permitting processes across the state. It’s currently in the Senate Joint Committee on Community Development and Small Business. The Massachusetts Municipal Association Continued on Page 8


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.