Mortgage Master joins affordable housing initiative

The company has become the first non-depository lender to join a Massachusetts initiative to provide affordable home loans to low-income buyers

Mortgage Master, one of the country’s largest privately owned mortgage companies, has become the first non-depository lender to join the Massachusetts Home Ownership Compact to provide affordable mortgage solutions to low-income first-time home buyers.

“Mortgage Master is proud to call Massachusetts its corporate headquarters and we are committed to serving our local state community,” said Paul Anastos, president of Mortgage Master. “The recovery of the housing market, the dream of homeownership and the overall economic success of our local communities are things that are extremely important to us at Mortgage Master. We are excited to support the governor’s initiative and do our part – as a collaborative community member – in helping borrowers and working toward strengthening Massachusetts.”

Massachusetts governor Deval Patrick announced the compact last year with the goal of providing 10,000 mortgage loans to low-income buyers over the next five years.

“The Homeownership Compact is a great example of how government, lenders and non-profit agencies can work together to make affordable mortgages available to first-time homebuyers across the Commonwealth,” said Aaron Gornstein, undersecretary of the state’s Department of Housing and Community Development. “We welcome Mortgage Master to the Compact.”

“We are pleased to have Mortgage Master join the Compact,” said Esther Maycock-Thorne, president of the non-profit Massachusetts Affordable Housing Alliance. “Mortgage companies play an important role in reaching low-to-moderate income first time borrowers in our Commonwealth and we congratulate Mortgage Master on making this commitment.”