Changing Patterns

Changing Patterns XXIII: Mortgage Lending to Traditionally Underserved Borrowers & Neighborhoods in Boston, Greater Boston and Massachusetts 2015, provides an analysis of area lending patterns. Changing Patterns XXIII was prepared for the Massachusetts Community & Banking Council by Jim Campen, professor emeritus of economics at UMass Boston and longtime MAHA board member.

Home-purchase lending to black and Latino borrowers varied dramatically among Boston’s twenty major neighborhoods in 2015. Black borrowers received 41% of total loans in Mattapan and 28% of total loans in Hyde Park and Roxbury, but received no loans in eight other neighborhoods (Allston, Back Bay, Beacon Hill, Downtown, Fenway, Mission Hill, North End, and South Boston Waterfront). Latino borrowers received 21% of total loans in Hyde Park and 15% of total loans in East Boston, while there were no loans to Latinos in the Fenway, Mission Hill, North End and South Boston Waterfront neighborhood.

More positively, the implementation of the Massachusetts’s unique CRA for Mortgage Lenders law appears to have had a favorable impact on the relative performance of independent mortgage companies in serving traditionally underserved borrowers and neighborhoods in Boston, Greater Boston, and Massachusetts for the third year in a row. More information about Changing Patterns XXIII can be found on MCBC's website.

Last Years Report: Changing Patterns XXII

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