MHP's SoftSecond Loan Program honors Rockland TrustAugust 29, 2012
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.
Since January 2010, during a time when many lenders were pulling back from making home loans, Rockland Trust made more than 40 loans to low- and moderate-income first-time homebuyers in 28 communities throughout Southeastern Massachusetts, making it one of the state's top 10 "SoftSecond" lenders. The SoftSecond Loan Program from the Massachusetts Housing Partnership has helped thousands of Massachusetts residents achieve their dreams of affordable homeownership throughout its 21 years.
"Rockland Trust has continued its commitment to helping first-time homebuyers fulfill their dreams of homeownership by making good loans that keep homebuyers in their home for the long run," said Clark Ziegler, executive director of the Massachusetts Housing Partnership. "Rockland Trust's support of SoftSecond has not only helped first-time homebuyers, it has helped promote owner-occupied homeownership and neighborhood stability."
During the past two decades, SoftSecond has maintained a remarkably low record of delinquencies and foreclosures, and performed equal or better than prime mortgage loans in Massachusetts made to borrowers with substantially higher incomes. In addition to offering low, fixed-rate financing and relieving homebuyers from paying private mortgage insurance, the Massachusetts Housing Partnership's SoftSecond program offers rigorous pre-purchase education and post-purchase services for homebuyers.
"At Rockland Trust we are committed to doing our part to strengthen the communities where we operate and take action to deliver upon that commitment," said Chris Oddleifson, President and Chief Executive Officer of Rockland Trust. "The SoftSecond program allows us to make the dream of owning a home a reality for many who never even considered it a possibility. It's truly an honor not only to help these individuals and families throughout the state fulfill that dream, but also to help stabilize their communities through home ownership."
Rockland Trust's support of lower-income homebuyers has reached many communities in Massachusetts, including: Athol, Blackstone, Bourne, Bridgewater, Brockton, Fall River, Framingham, Franklin, Halifax, Hanson, Lowell, Marshfield, Middleborough, New Bedford, Pembroke, Plymouth, Quincy, Rockland, Saugus, Taunton, Watertown, Weymouth, Wrentham and Yarmouth.
About SoftSecond: SoftSecond is the state's most affordable and effective mortgage for first-time homebuyers who make less than the area median income. Created in 1991, it has helped more than 16,000 homebuyers purchase their first home and has provided more than $2.6 billion in private mortgage financing. The average total household income of a SoftSecond homebuyer is $50,000 and the program has maintained a remarkably low record of delinquencies and foreclosures, and performs equal or better than prime mortgage loans in Massachusetts that are made to borrowers with substantially higher incomes. For more information on SoftSecond and the Massachusetts Housing Partnership, please visit: http://www.mhp.net/homeownership/.
About Rockland Trust Company: Rockland Trust Company is a full-service commercial bank headquartered in Massachusetts with $5.1 billion in assets. The sole bank subsidiary of Independent Bank Corp. (NASDAQ:INDB), Rockland Trust provides a wide range of consumer, business, investment, and insurance products and services. Ranked "Highest Customer Satisfaction with Retail Banking in the New England Region" in 2012 by J.D. Power and Associates, Rockland Trust's network consists of 67 retail branches, ten commercial lending centers, four investment management and four residential lending centers located throughout Eastern Massachusetts and in Rhode Island. To find out why Rockland Trust is the bank "Where Each Relationship Matters", please visit www.RocklandTrust.com.
Rockland Trust Co. received the highest numerical score among retail banks in the New England region in the proprietary J.D. Power and Associates 2012 Retail Banking Satisfaction StudySM. Study based on 51,498 total responses measuring 13 providers in the New England region (CT, MA, ME, NH, RI & VT) and measures opinions of consumers with their primary banking provider. Proprietary study results are based on experiences and perceptions of consumers surveyed January-February, 2012. Your experiences may vary. Visit www.jdpower.com.