Banker and Tradesman: June 13, 2022

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ANNIVERSARY BY THE NUMBERS

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R E AA LL EES ST T F AI N A INA CL I IANLF OI R NM F A O TRI M A TSI I O RE AA T ET E& & FIN NC ON NN C E S 1I 8N7C2 E

County close-up: Suffolk Spotlight: Jamaica Plain

IN PERSON

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Pamela O’Leary sees her embrace of lifelong learning as key to her career in banking, where she has worked mostly in technology and operations. But she did not even expect to have a career in the industry.

WEEK OF MONDAY, JUNE 13, 2022

37 The number of years Pamela O’Leary has spent in the banking industry. See In Person on page 7. Source: Pamela O’Leary

$1.47 million The fifth home in this week’s Gossip Report was bought with a $1.47 million mortgage from Harvard University Credit Union. See page 11. Source: The Warren Group

18 years COO Pamela O’Leary has worked for South Shore Bank for 18 years. See In Person on page 7. Source: South Shore Bank

40 Massachusetts could join 40 other states in permanently legalizing remote notarization. See Diane McLaughlin’s story on page 9. Source: National Notary Association

10 Kristin Carvalho spent 10 years as president and CEO of The Milford National Bank & Trust Co. See Week on the Web on page 2. Source: MutualOne Bank

17.48 percent JPMorgan Chase held this share of the single-family mortgage market in Suffolk County in April. See By the Numbers on page 6. Source: The Warren Group’s Marketshare Module

$50,000 The minimum salary for branch employees under a new Metro Credit Union program. See Week on the Web on page 2. Source: Metro Credit Union

Maura Healey, the state’s attorney general and candidate for governor, supports localoption rent control measures while declaring the need to get Massachusetts to build more housing.

COMMERCIAL INTERESTS

WHAT DOES HEALEY REALLY SUPPORT

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Public Deserves to Know More About Rent Control Backing BY SCOTT VAN VOORHIS BANKER & TRADESMAN COLUMNIST

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an Attorney G e n e r a l Maura Healey have her cake and eat it too when it comes to the hotbutton issue of rent control? We’ll see. But if her recent speech to Boston’s business elite is any indication, the Democratic front-runner in the race for governor is ready to go to almost absurd lengths to straddle the issue. Speaking to a Greater Boston Cham-

ber of Commerce breakfast last week, Healey sounded very much like a housing production hawk. The AG told the assembled life science honchos, tech executives, developers, bankers and sundry businesspeople she’s all about finding ways to build housing, from spurring construction of new apartments near T stations to easing problematic zoning restrictions. “We need a lot more housing stock of all kinds across the state,” Healey said according to Banker & Tradesman, which covered the event. “We need to increase state resources for that. We need to relax and address some of the zoning barriers that get in the way.”

But Healey, in comments later to reporters, also effectively endorsed proposals that would give Boston, Cambridge and Somerville the power to cap rents in their cities.

Housing Strategy Has Contradictions

It’s an obvious contradiction but one the Boston Globe and other local media, for the most part, simply missed or ignored. As developers, businesspeople and more than a few economists will tell you, trying to boost the construction of new housing while simultaneously rolling out rent control is a fool’s errand.

3 All three of Suffolk County’s most prolific loan originators in April work with First Republic Bank. Source: The Warren Group’s Loan Originator Module

Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.

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Photo by Sam Doran | State House News Service

BANKING & LENDING BY THE NUMBERS

UNFINISHED BUSINESS

D O N ’ T R O N A W AY

Jemison Wants Action on Neighborhood Studies

Mass. Could Join Nation in High-Tech Update to Virtual Ink-Signing

New Planning Chief Has Eye on Downtown By Steve Adams | Banker & Tradesman Staff

Commercial Real Estate PAGE 7

Remote Notarization Evolves Amid Push to Make It Permanent By Diane McLaughlin | Banker & Tradesman Staff

Banking & Lending PAGE 9


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