Banking and Lending

Personnel File

East Cambridge Savings Bank, MGM Springfield and the Polish National Credit Union are among the organizations announcing changes to personnel in this week’s roundup.

Stepping Back From Dodd-Frank

The Dodd-Frank Act has been characterized as the financial industry’s version of the PATRIOT Act – drafted in a time of trauma. Now the nation’s financial sector is out of the ICU and into recovery and the next step will be to discharge it back home. But what, exactly, constitutes “home?”

Morgan Stanley Aims To Digitize The Mortgage Process

Morgan Stanley is developing a new digital mortgage application tool in a bid to get more of its existing clients to turn to it for home loans, its wealth management technology head said in a statement on Tuesday. Morgan Stanley has invested heavily into growing its residential mortgage and customized lending business in recent...
Auto Loan Balances Hit Record Highs

Auto Loan Balances Hit Record Highs

Auto 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.

Community Good Works

The Greater Boston Real Estate Board, Liberty Bay Credit Union and Skanska USA are featured in this week’s roundup of organizations giving back to their communities.