ONE launched, more lenders on board

BOSTON, Jan. 15, 2014 --- Continuing its transition from the SoftSecond Loan Program to the new ONE Mortgage Program, the Massachusetts Housing Partnership  (MHP) has posted online a full menu of resources and information about ONE Mortgage, including a new calculator that features versions that can be viewed easily on a mobile phone and tablet.

"The addition of this content is a big step in our efforts to help homebuyers, our lending partners and community partners understand and utilize the ONE Mortgage Program," said
Gina Govoni, MHP's Homeownership Director. "The web site features a complete list of active ONE Mortgage lenders, and mobile enhancements to the calculator. All these additions give first-time homebuyers more ways to understand just
exactly what they can afford."

The new web content features information on program eligibility, what steps homebuyers need to take to qualify, the location of homebuyer education classes and the list of lenders
that are currently offering the ONE Mortgage Program. For lenders, there is content explaining how the program works and how to become a ONE lender. Additionally, our income limits have been updated to reflect figures for 2014.

Since beginning the transition from a two-loan structure to ONE Mortgage this summer, 25 lenders have signed up for the program. Of those lenders, 21 have been trained on the new program's guidelines and systems and are already originating loans: Bay State Savings, Blue Hills Bank, Boston Private Bank, Cambridge Savings Bank, Cambridge Trust, Chelsea Bank, Clinton Savings Bank, Dedham Savings, Eastern Bank, Enterprise Bank, First Citizens Federal Credit Union, Freedom Credit Union, Mechanics Cooperative Bank, Middlesex Savings Bank, Pilgrim Bank, Rockland Trust, Santander (formerly Sovereign Bank), Southern Mass Credit Union, St. Mary's Credit Union, The Savings Bank, and the Winchester Co-operative Bank. The first ONE Mortgage loan, originated by Winchester Co-operative, closed on
August 27. To speak to a ONE Mortgage loan officer at one of these banks, click here.

Recently, three more banks signed up for the program: MountainOne Bank, Berkshire Bank and Liberty Bay Credit Union.

Citizens Bank has committed to the program and expects to begin originating ONE loans in early 2014.

ONE Mortgage is a new, simplified version of SoftSecond, which from 1991 through 2013 helped over 17,000 families purchase their first home and leveraged over $2.8 billion in
private mortgage financing. The shift from SoftSecond's two-loan structure to ONE loan comes after several years of careful discussions with lenders, community groups and borrowers about how to maintain the program's effectiveness while making it simpler for borrowers and easier for financial institutions to administer.

For more information, email onemortgage@mhp.net or call 1-800-752-7131.