Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

February 19, 2009

Local Banks Re-emerge as Top Lenders

by @ 10:42 am. Filed under Real Estate

The number of mortgages recorded in Middlesex North during the first six weeks of 2009 was up 5% from the same time last year. It is also becoming clear that the identity of the lenders making these loans has changed dramatically. We’ve only had a chance to look at lenders making loans on Lowell properties during the first six weeks of 2009, but what’s most apparent is that many of the national lenders such as Wells Fargo and Deutsche Bank, institutions that more than any others fueled the recent real estate bubble, have all but disappeared. Here’s a list of the top mortgage lenders for Lowell properties thus far in 2009:

    Bank of America - 16
    Countrywide - 14
    Enterprise Bank - 13
    Salem Five - 12
    First Eastern Mortgage - 9
    Jeanne d’Arc Credit Union - 8
    Lowell Five Cent Savings - 8
    Sovereign Bank - 8

It seems that one consequence of the dramatic reshuffling of the real estate world is that local banks are returning to their former spots as some of the most active lenders in the community.

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