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"Outstanding" CRA Ratings Fall To Historic Lows

New MAHA Report on 2015 CRA Ratings Released

January 21, 2016 - Of the 88 Community Reinvestment Act ratings awarded to Massachusetts banks during 2015, only six (6.8%) were “Outstanding." This is by far the lowest share of “Outstanding” ratings since 1991 when ratings first became publicly available, according to a report issued today by the Massachusetts Affordable Housing Alliance (MAHA). In the last two years the share of Outstanding ratings has plummeted from 24.2% in 2013 to 14% in 2014 to 6.8% in 2015.

The report was prepared for MAHA by Jim Campen, Professor Emeritus of Economics at the University of Massachusetts at Boston and a long-time member of MAHA's Board of Directors.

MAHA's twenty-fifth annual report lists the CRA ratings assessed to all Massachusetts banks, credit unions, and mortgage companies and evaluates the performance of the three federal regulators and the Massachusetts Division of Banks in reviewing bank performance in meeting community needs.

Black and Latino Shares of Conventional Loans Well Below Household Shares in MCBC study

Boston, MA (December 21, 2015) – The black share of conventional home-purchase loans in Boston has fallen by over 40% in the last six years so that in 2014 they received only 3.6% of all loans in the city although they constitute 21.0% of all households. In seven of the city’s twenty major neighborhoods not a single home-purchase loan was made to a black borrower.

More positively, the implementation of the Massachusetts’s unique CRA for Mortgage Lenders law appears to have had a favorable impact on the relative performance of independent mortgage companies in serving traditionally underserved borrowers and neighborhoods in Boston, Greater Boston, and Massachusetts.

These are among the most dramatic findings presented in the Massachusetts Community and Banking Council’s twenty-second annual report on local mortgage lending. Changing Patterns XXII: Mortgage Lending to Traditionally Underserved Borrowers & Neighborhoods in Boston, Greater Boston and Massachusetts 2014 was prepared for MCBC by Jim Campen, professor emeritus of economics at UMass Boston and longtime MAHA board member.


Massachusetts Affordable Housing Alliance
1803 Dorchester Avenue
Dorchester, MA 02124
By email:
By phone: 617-822-9100
By fax: 617-265-7503