Leader Bank Residential Lending Department Closes $2 Billion in First Half of 2020

ARLINGTON, Mass., July 21, 2020 /PRNewswire/ -- Leader Bank, N.A. is pleased to announce that its Residential Lending Department closed over $2 billion in residential mortgage loans in the first six months of 2020.  Leader Bank, which ended 2019 as the top bank lender for total number of loans and dollars lent for residential lending in Massachusetts saw a surge in applications during 2020 as a result of low interest rates caused by the disruptions of the COVID-19 pandemic. Leader Bank's commitment to helping customers achieve the dream of homeownership, reduce their monthly mortgage payments, or unlock the equity in their homes allowed the Bank to assist more than 5,300 residential lending customers through June 30, 2020.   

"Recent events have put a financial strain on many families, and we are happy that we have been able to work with so many customers to find lending solutions that enable them to purchase or refinance their homes. We hope that our new products further aid our customers and reinforce our commitment to providing the best rates and service to our clients," commented Jay Tuli, President of Leader Bank.

Despite the current upheaval in the financial markets, Leader Bank is committed to meeting the continued high demand for residential lending products, especially for new home purchases. The Bank continues to carefully review its offerings and recently announced products specifically designed to assist customers looking to enter the summer purchase market by taking advantage of record low interest rates. These products, together with the Bank's other residential lending offers, provide customer solutions for a range of loan amounts as well as fixed and variable rate options.

"Our goal remains to assist homeowners and homebuyers to find mortgage programs that fit their unique needs," said Mr. Tuli.

About Leader Bank

With assets over $1.5 billion, Leader Bank, N.A. is a nationally chartered bank founded in 2002 with seven full-service branches in Arlington, Belmont, Boston, Burlington, and Cambridge. Leader Bank offers a full range of personal and business banking products including personal and business checking accounts, commercial and residential lending products, home equity lines of credit, deposit products with highly competitive rates and free online banking and bill payment services. Visit Leader Bank's website at www.leaderbank.com for more information. Member FDIC and Equal Housing Lender, NMLS #449250.

SOURCE Leader Bank

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