05.22.2009
MassHousing honors South Shore Savings Bank at Annual Home Ownership Awards Ceremony
Pictured at the awards ceremony are MassHousing Executive Director Thomas Gleason (left) and Cambridge Mortgage Group, a subsidary of South Shore Savings Bank, Loan Officer Brian Desmond.
South Weymouth– MassHousing recently honored South Shore Savings Bank and six other mortgage lenders at its Annual Home Ownership Awards Ceremony, for their promotion and origination of MassHousing’s affordable mortgage and mortgage insurance products.
South Shore Savings Bank was presented with an award for being the top producer of MassHousing’s Homeowner Septic Repair loan program.Through a combined effort of the Department of Environmental Protection, the Massachusetts Department of Revenue, and MassHousing, the program makes below-market-rate loans available to homeowners faced with the need to repair a failed septic system to meet the Commonwealth’s Title V requirements.
“MassHousing is very pleased to honor these outstanding lending institutions for being the top producers of MassHousing loan products in 2008,” said MassHousing Executive Director Thomas R. Gleason. “Their excellence in lending and commitment to affordable housing has resulted in hundreds of Massachusetts residents being able to purchase their own home or make important improvements to their homes with MassHousing’s safe and affordable loan products.’’
MassHousing works with a statewide network of nearly 200 approved lending partners to make available its diverse suite of affordable mortgage products. The agency provides fixed-rate, 30-year mortgages with low and no down payments that feature interest rates at or below market. MassHousing’s second mortgages allow homeowners to make general repairs, remove hazardous lead paint, or bring a failing septic system into compliance with the state’s Title V. For more information on MassHousing’s products for homebuyers and homeowners, visit www.masshousing.com/homeownership.
About MassHousing
MassHousing (The Massachusetts Housing Finance Agency) is an independent, quasi-public agency created in 1966 and charged with providing financing for affordable housing in Massachusetts. The Agency raises capital by selling bonds and lends the proceeds to low- and moderate-income homebuyers and homeowners, and to developers who build or preserve affordable and/or mixed-income rental housing. MassHousing does not use taxpayer dollars to sustain its operations, although it administers some publicly funded programs on behalf of the Commonwealth. Since its inception, MassHousing has provided more than $5.6 billion for rental housing and more than $4.8 billion for homeownership. For more information, visit the MassHousing website at www.masshousing.com.
About South Shore Savings Bank
Originally chartered in 1833, South Shore Savings Bank is a full-service community bank with assets of approximately $950 million and 15 branches. All deposits are insured in full. The FDIC insures all deposits up to $250,000 per depositor and up to $250,000 per depositor for Individual Retirement Accounts (IRAs); all deposits above this amount are insured by the Depositors Insurance Fund (DIF). For more information, visit www.sssb.com.
| 
Equal Housing Lender Member FDIC Member DIF
