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Issue of June 30, 2008 |     |
Bank of Canton Wins Second Award for Minority Lending By Amy Wyeth Residents might be high-tailing it out of the Bay State, but one bank has counted on immigrants to raise its sales – and win awards. Bank of Canton loaned more of MassHousing’s two affordable mortgage products – MassAdvantage and Fannie Mae’s MyCommunity mortgage – to non-white borrowers than any Bay State lender in both 2006 and 2007, the agency said. More Banks Desert FDIC, Select Other Federal Overseers By Amy Wyeth Seven state-chartered Massachusetts banks have jumped ship from the regulatory authority of the FDIC since 2007, with the majority changing to the Federal Reserve. Coakley Charges 5 In Latest Mortgage Fraud Scheme By Amy Wyeth Two bank employees, a mortgage broker, the broker’s assistant and a Worcester man have been indicted for allegedly creating false or misleading bank documents, according to Attorney General Martha Coakley. Cambridge Savings Bank Adds Mort-gage Lending Subsidiary By Amy Wyeth Cambridge Savings Bank – in the enviable position of having more residential mortgage loans than it would like in its portfolio compared to commercial loans – has announced the opening of its new mortgage lending subsidiary, Farwell Lending. |
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