20 lenders have committed to ONE
13 already originating new version of SoftSecond; Winchester Coop makes 1st loanBOSTON, Nov. 26, 2013 --- Five months after it was announced that the SoftSecond Loan Program would be transitioning from a two-loan structure to one mortgage, 20 lenders have committed to the new ONE Mortgage Program, 13 are originating loans and the first ONE Mortgage loan has been made.
SoftSecond begins transition to ONE
MHP helping community, lending partners with conversion to new, simpler programBOSTON, July 10, 2013 --- It's official. After several years of discussions with lenders, community groups and borrowers, MHP's SoftSecond Loan Program will be transforming this summer from a two-loan structure to one mortgage, a move that will make it simpler for first-time buyers and the financial institutions that offer the program.
SoftSecond's standards, success earns it key fed exemption
New 'Ability-to-Repay' rules will not apply due to program's servicing, historyBOSTON, June 26, 2013 --- The Massachusetts Housing Partnership's SoftSecond Loan Program - which is switching from a two-loan structure to one loan and will be renamed ONE Mortgage - has earned an exemption from new federal mortgage rules, a decision that will help the program appeal to more lenders and ensure that safe, secure, fixed-rate mortgage credit will continue to be available to lower-income homebuyers.
Gov sets homeownership goal, unveils new ONE program
Calls for 10,000 loans to modest-income families; banks sign on; SoftSecond revampedBOSTON, June 11, 2013 --- After more than 20 years and 17,000 loans, MHP's SoftSecond Loan Program is taking steps to continue its success by transforming from a two-loan structure to one mortgage, a move that will make it simpler for first-time homebuyers and the financial institutions that offer the program.
Sovereign honored for helping first-time buyers in Lawrence, MV LAWRENCE, Dec. 19, 2012 ---MHP's SoftSecond Loan Program has honored Sovereign Bank with a HomeSafe Award for its outstanding success making loans to lower-income first-time homebuyers in the City of Lawrence and the Merrimack Valley.
Blue Hills honored for helping Boston first-time homebuyers BOSTON, Dec. 5, 2012 --- MHP's SoftSecond Loan Program has honored Blue Hills Bank with a 2012 HomeSafe Award for its outstanding success making loans to first-time homebuyers in Boston.
SoftSecond recognizes Mechanics Cooperative Bank BOSTON, Sept. 21, 2012 --- The Massachusetts Housing Partnership's SoftSecond Loan Program has honored Mechanics Cooperative Bank with a 2012 HomeSafe Award for its success making loans to low- and moderate-income first-time homebuyers in southeastern Massachusetts.
MHP's SoftSecond Loan Program honors Rockland Trust BOSTON, Aug. 29, 2012 - The Massachusetts Housing Partnership's SoftSecond Loan Program today announced Rockland Trust has received its HomeSafe Award in recognition of the bank's outstanding success making loans to working-class, first-time homebuyers in Massachusetts.
MHP's SoftSecond program honors Southern Mass Credit Union FAIRHAVEN, Aug. 28, 2012 --- MHP has honored Southern Mass Credit Union with a HomeSafe Award for its success making loans to first-time homebuyers.
Recent articles make case for SoftSecond
Blueprint for responsible homeownership, making first-time homebuyers part of recoveryBOSTON, July 6, 2012 --- In case you missed it, Shelter Force published an article this spring on how MHP's SoftSecond Loan Program can be useful in shaping a new national policy on how to successfully extend credit to lower-income first-time homebuyers.