ONE Mortgage/SoftSecond Loan Program
In 1989-90, a determined group of women of color fought hard to reverse a decades-long pattern of racial discrimination in mortgage lending. These MAHA members successfully negotiated for the SoftSecond loan program, an innovative, affordable mortgage program for low- and moderate-income homebuyers that has changed the lending landscape in Boston and in Massachusetts. Today, SoftSecond has been redesigned from a two-mortgage structure to the ONE Mortgage Program, offering borrowers the same affordability and financial security that generations of SoftSecond homeowners have benefited from, in a new, simpler structure.
Research on the SoftSecond Mortgage Loan Program
Expanding Homeownership Opportunity - The SoftSecond Loan Program 1991-2006: A report by Jim Campen of the Gaston Institute at UMass/Boston for the Massachusetts Community Banking Council which looks at SoftSecond loan activity and performance statewide.
Boston's SoftSecond Program: A paper by Jim Campen of UMass Boston's Economics Department and Thomas Callahan of MAHA that provides a detailed case study of this "remarkably successful" program in the City of Boston.
MAHAMassachusetts Affordable Housing Alliance
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