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MassHousing Honors Charles River Bank For Being A Top-20 Lender in 2011

Medway-based lender produced more than $4.8 million in affordable, fixed-rate MassHousing Mortgages for low and moderate-income homebuyers.

BOSTON - January, 2012 - MassHousing has honored Charles River Bank for being among the Agency's Top-20 lenders of MassHousing Mortgages in 2011.

Charles River Bank, based in Medway with branches in Mendon and Bellingham, originated 26 MassHousing first mortgages for more than $4.8 million in financing during calendar year 2011.

"Charles River Bank has provided quality lending and banking services for thousands of Massachusetts families for nearly 100 years," said MassHousing Executive Director Thomas R. Gleason. "Charles River Bank was one of our top lending partners in 2011 because of their professionalism and dedication in providing quality MassHousing Mortgage products to low and moderate-income homebuyers."

MassHousing works with a statewide network of more than 160 approved lending partners to make available its diverse suite of affordable mortgage products. The agency provides fixed-rate, 30-year mortgages with low down payments and competitive interest rates. MassHousing's second mortgages allow homeowners to make general repairs, remove hazardous lead paint, or bring a failing septic system into compliance with the state's Title V. For more information on MassHousing's products for homebuyers and homeowners, visit www.masshousing.com/homeownership.

"Providing homeownership opportunities to low and middle income families is the reason our bank was founded as a chartered Co-operative Bank almost 100 years ago. Although we now provide comprehensive financial solutions for individuals, families and businesses in our community, we will always remain true to our roots and continue our founders' mission. Our partnership with MassHousing allows us to offer the most innovative mortgage programs in the area," stated Charles River Bank President & CEO Jack Hamilton.


About Charles River Bank

Charles River Bank - with assets of $186 million - was founded in 1915 and offers a wide range of individual and business banking services. Charles River Bank is a member of the FDIC and the SIF, and all deposits are insured in full. The Bank's Main Office is located at 70 Main Street in Medway MA. Charles River Bank also operates three other local branches - in Bellingham at the intersection of Maple Street and Route 140, in Mendon at the intersection of Route 16 and North Ave, and a branch in the Medway High School that operates during the school year. Visit www.charlesriverbank.com for more information or call Mortgage Consultants Mickee Whitney (NMLS# 782138) or Mike Shain (NMLS# 776638).


About MassHousing

MassHousing (The Massachusetts Housing Finance Agency) is an independent, quasi-public agency created in 1966 and charged with providing financing for affordable housing in Massachusetts. The Agency raises capital by selling bonds and lends the proceeds to low- and moderate-income homebuyers and homeowners, and to developers who build or preserve affordable and/or mixed-income rental housing. MassHousing does not use taxpayer dollars to sustain its operations, although it administers some publicly funded programs on behalf of the Commonwealth. Since its inception, MassHousing has provided more than $13 billion for affordable housing. For more information, visit the MassHousing website at www.masshousing.com, follow us on Twitter @MassHousing, subscribe to our blog and Like us on Facebook.