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Category: Finance
Vales joins Rockland Trust’s Providence commercial lending team
July 14, 2023
Providence, RI Rockland Trust has expanded its Rhode Island commercial lending team with the appointment of Manuel Vales to senior vice president, commercial loan officer. In this role, Vales is responsible for cultivating and nurturing new and existing commercial client relationships.
Washington Trust named Best Place to Work
July 14, 2023
Westerly, RI The Washington Trust Company received the Best Places to Work Award in R.I. by Providence Business News (PBN). The bank was selected as top employer in the Enterprise category, representing companies with 500 or more employees. This is the 13th straight year Washington Trust has been recognized as a top employer.
HarborOne Bank relocates Randolph, MA branch to 19 Warren Street, replacing the current branch locat...
July 14, 2023
Randolph, MA In a move that will increase accessibility and convenience for customers, HarborOne Bank is relocating its local banking center to 19 Warren St., formerly home to Café Bella, replacing the current branch located at 245 North Main St.
MassDevelopment issues $25 million tax-exempt bond on behalf of CIL Realty of Massachusetts, Inc.
July 14, 2023
Boston, MA MassDevelopment has issued a $25 million tax-exempt bond on behalf of CIL Realty of Massachusetts, Inc. (CILRM), a nonprofit real estate developer that is using bond proceeds to buy, construct, and/or renovate 21 community residences in Massachusetts that will provide housing for up to 105 persons
East Cambridge Savings Bank wins New England Financial Marketing Association award
July 14, 2023
Cambridge, MA East Cambridge Savings Bank received the Gold Award for Best Digital Marketing Campaign of 2022 at the New England Financial Marketing Association (NEFMA) 2023 Spring Conference. The bank’s award-winning Debit Card for Teens campaign was an extensive omni-channel marketing
CATIC forms National Agency Division
July 14, 2023
Rocky Hill, CT CATIC has formed its National Agency Division. The division will include Kyle Rank, senior vice president, national accounts manager who joined CATIC in January of this year. Joining Rank will be Christine Huff, vice president, national agency manager,
Welch joins Essex Savings Bank as vice president, senior business banking officer
July 14, 2023
Essex, CT Essex Savings Bank has added Carolyn Welch as vice president, senior business banking officer. “We are pleased that Ms. Welch has joined our expanding business. With over 40 years of experience in banking including over two decades in commercial lending, her experience will be an asset for both
Fannie Mae, Freddie Mac, and appraisers - by Bill Pastuszek
July 14, 2023
The secondary residential mortgage is a vast enterprise which encompasses many lenders, appraisers, borrowers, and investors. While Fannie Mae (Fannie) and Freddie Mac (Freddy) are not the only secondary market conduits, what they decide to do tend to inform the entire residential mortgage.
Is it time for appraisers to start making downward market condition adjustments? - by Josephine Aber...
July 14, 2023
You are going to start seeing downward adjustments in appraisal reports for changing market conditions. Although the issues within the commercial real estate, CRE market are well known, it may be a jarring experience to see the adjustment applied to your property.
Real estate development process: A slippery slope, made steeper - by Daniel Calano
July 14, 2023
A recent March 2023 McKinsey and Company report indicates that real estate developers are pausing, or even canceling, development projects that were otherwise ready to go. In some cases, projects already under construction have been stopped.
Halfway to 2024, but we’re not out of 2023 yet - by Brett Pelletier
July 14, 2023
There was a time that the city was quiet for July and August…then just August…now, it’s busy all summer long. The financial markets aren’t taking the summer off, that’s for sure. The stock market has been riding the proverbial teeter-totter with good days and bad, reactions and preemptions.
A little at a time: Structuring an installment sale - by Kyle Kadish
July 14, 2023
Real estate investors maintain an outsized portion of benefits through the Internal Revenue Code versus nearly any other U.S. taxpayer. These opportunities exist through both the operation and eventual liquidation of real property. Even with the multiple options available to investors, many often become paralyzed, refusing to sell at
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