Vol.41, No.34
www.thewarrengroup.com
W E E K O F M O N D A Y, A U G U S T 2 6 , 2 0 1 9
THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group
WEEKLY SALES OF NOTE
FA S T 5 0
Lenders Adjust to Challenging Market by Focusing on Originators
Lebanon
51 EVANS DR. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$5,000,000 B: Evans Drive RE LLC S: 51 Evans Drive LLC Mtg: Northern Bk & Tr $4,000,000 Use: Auto Sales, Lot: 144619sf
Manchester
Bulked-Up Supports Drew New Hires, Boosted Productivity
212-228 MAPLE ST U:2 . . . . . . . . . . . . . . . . . . . . . . . $2,885,000 B: 222 Maple Street LLC S: Corley Assoc LP Use: Condo
BY IAN B. MURPHY
Hooksett
SPECIAL TO THE REGISTRY REVIEW
T
he ultra-competitive real estate market in New Hampshire has potential homebuyers stressed and often demanding a high-touch relationship with their mortgage professionals, forcing lenders to adapt. Lending institutions who support their loan officers and try to streamline mortgage processes are finding success so far this year, allowing them to focus on quicker turnarounds, spending more time with clients and extending their reach into new communities. Of the 25 fastest-growing residential mortgage lenders in New Hampshire, Mascoma Bank has the largest total residential mortgage volume through the first half of 2019 according to The Warren Group, publisher of the Registry Review, with $52.4 million. That represents a 73 percent increase compared to the first half of 2018. Ken Wells, Mascoma Bank’s chief retail lending officer, said the biggest change at the mutual bank has been adding additional staff: over the last year the bank has made sure each loan officer now has the support of a loan assistant, and that’s helped attract a few new loan originators, too. “Having the support of a loan assistant allows [loan originators] to spend less time on chasing documents, following up with customers or keeping other parties in the loop,” Wells said. “It’s giving them more time per week to spend with customers, prospecting, or both. In some markets … the lenders might be spending time a community or two farther out than they would be.” Freeing up loan officers to spend more
7 CINEMAGIC WAY. . . . . . . . . . . . . . . . . . . . . . . . . . . $2,200,000 B: 545 Reading LLC S: MPH Holdings LLC Mtg: TD Bank NA $2,325,000 Use: Commercial Devlpble Land, Lot: 88427sf
Boscawen
146 KING ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,424,733 B: Molly O Maggregor Tr, Tr for Warehouse Corp Hyannis RT S: Boscawen Mini Storage LLC Mtg: TD Bank NA $3,000,000 Use: Commercial Building, Lot: 497455sf
North Hampton
21 SHIP ROCK RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,290,000 B: Isaac N Hamilton & Jill L Hamilton S: Kevin M Davis Tr, Tr for 1 Life RET
Laconia
44 TEDDINGTON WAY. . . . . . . . . . . . . . . . . . . . . . . . . $1,175,000 B: Edward E Mcgourty S: Anthony S Tremblay & Susan Tremblay Mtg: Meredith Vlg Svgs Bk $940,000 Use: 4 Bdrm Contemporary, Lot: 20012sf
New Castle
33 RIVERVIEW RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,150,000 B: Darryl E Mojdehi S: Robert A Grant & Bente A Grant Mtg: Mortgage Networks Inc $536,100 Use: 3 Bdrm Cape Cod, Lot: 5227sf
North Hampton
32 WILLOW AVE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,100,000 B: Gordon A Vinther Jr S: Michael A Falzone & Laura J Harper-Falzone Use: Accessory Land Improved, Lot: 297515sf
Whitefield
152 FOREST LAKE RD. . . . . . . . . . . . . . . . . . . . . . . . . $1,000,000 B: Melhem Ent Retreats LLC S: Richard Leibovitch Mtg: Bank of New England $606,900 Use: Residential Open Land, Lot: 310583sf 90 FOREST LAKE RD. . . . . . . . . . . . . . . . . . . . . . . . . . $1,000,000 B: Melhem Ent Retreats LLC S: Richard Leibovitch Mtg: Bank of New England $606,900 Use: 3 Bdrm Contemporary, Lot: 5521666sf 88 FOREST LAKE RD. . . . . . . . . . . . . . . . . . . . . . . . . . $1,000,000 B: Melhem Ent Retreats LLC S: Richard Leibovitch Mtg: Bank of New England $606,900 Use: 2 Bdrm Cape Cod, Lot: 229997sf
time with customers is all part of a larger culture change at Mascoma Bank, Wells said, one that’s not only helped in recruiting, but that has brought in business in the close-knit communities where they do business. “Culture takes time to change, but we have been changing that culture away from a traditional ‘8 a.m. to 5 p.m., Monday to Friday’ mindset,” Wells said. “We understand that most homes sell on the weekend. Now [loan officers] are plugged in and available at night and on the weekends, and that’s really important to the Realtor community.” According to The Warren Group’s data, the
fastest-growing institution in terms of overall number of mortgages originated in the first half of 2019 is the New Hampshire Housing Finance Authority, the state’s self-funded public corporation tasked with supporting and financing affordable housing. The NHHFA was involved with 294 total loans in the first half of 2019, according to The Warren Group, a 367 percent increase compared to 63 in the fist half of 2018. Ignatius MacLellan, the managing director of the NHHFA’s homeownership division, pointed to the institution’s two-year-old Participating Loan Originator program that partners
New Hampshire Market Statistics
800
REAL ESTATE RECORDS
600
TRANSACTIONS THRU
400
3 Belknap ���������������������������� 08/13/19 3 Carroll ���������������������������� 08/13/19 4 Cheshire ������������������������ 08/13/19 4 Coos �������������������������������� 08/13/19 5 Grafton ���������������������������� 08/13/19 5 Hillsborough ������������������ 08/13/19 7 Merrimack ���������������������� 08/13/19 8 Rockingham ������������������ 08/13/19 9 Strafford ������������������������ 08/13/19 10 Sullivan �������������������������� 08/13/19 10 Bankruptcies 10 Lien & Attachments 11 Foreclosure, Mortgagee & Other Lien Auctions 11 Requests for Bids & Proposals
200 0
$950 950
T
Both Refinance
$780 780
Purchase
$610 610 Feb Mar $440 440
Apr May Jun Jul Aug Sep Oct Nov Dec. Jan Feb
$270 270 $100 100
Jul. Aug Aug. Sept. Oct. Nov Nov. Dec. Dec. Jan Jan. Feb Feb. Mar Mar. Apr. Apr. May May June Jun. July Jul. July Sep Oct ’18
Both Refinance
780 $780
375
250
Feb. 14
Feb. 15
Feb. 16
Feb. 17
Feb. 18
440 $440 270 $270
$100 100
July 15 July
’15
Month
Purchase
Refinance
Both
Both
July 2015
$390
$362
$752
July 2016 Purchase
$303
$353
$656
July 2017
$419
$308
$727
July 2018
$453
$255
$708
July 2019
$469
$433
$902
Refinance
Purchase
610 $610
125
0
’19
950 $950
500
July 15 July
July 17 July
Jun. 18 July
July 19 July
’16
’17
’18
’19
Continued on Page 12
TO OUR READERS
Volume of Mortgages for Single-Family Homes
INDEX PG COUNTY
By hiring assistants for its loan originators, Mascoma Bank has helped its residential mortgage staff grow their volume of lending and expand where they prospect for leads.
❑ Dollar amounts in millions ❑ Source: The Warren Group ❑ Statistics based on single-family home sales
©2019 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.
he Registry Review is online! After more than 40 years as a printed newspaper, all of the real estate information you rely on is now available at Both www.theregistryreview.com. (There are no plans to cease publication of the Refinance newspaper.) All current subscribers have complimentary access to the webPurchase site. When you first visit the site, please click the “forgot password” button to set up your account. If you have any problems please call or email customer service at 617-896-5388 or customerservice@thewarrengroup.com. If you have any feedback or would like to contribute content, please email editorial@ thewarrengroup.com. Sincerely, Cassidy Norton Associate Publisher