Applications / Mortgage Analytics / Lenders / Massachusetts / MSA Mortgage
Winthrop, MA · Independent non-bank lender · CFPB · 474 loans in 2025
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474
loans originated, 2025
655
applications, 2025
9
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
MSA Mortgage, a Massachusetts mortgage company, makes far more of its loans in poorer neighborhoods than similar lenders do, though its lending fell by 30% in 2025 as the market grew.
Low- and moderate-income (LMI) neighborhoods take 40.0% of its loans, against 18.3% at similar lenders (independent non-bank lenders making between half and twice as many loans), one of the highest shares among them. LMI borrowers take 34.3%, against 24.6%. That matters to banks looking for partners under the Community Reinvestment Act.
Its typical loan, $545,000, is larger than at more than nine in ten similar lenders, whose typical loan is $325,000. Most of its business is home purchases, at 82.3%. Its typical rate, 6.38%, is a little below its peers', and almost none of its loans are higher-priced (a rate well above the average for similar loans).
It made 474 loans in 2025, down from 678, while similar lenders grew by 2% and the market by 10%. Only about one in twelve peers fell further. Its share slipped in Worcester, Providence and Crestview. Its loan mix barely changed, which points away from the loss of a single product line. The fall takes it back near its 2023 level of 516 loans, so 2024 may have been the unusual year.
It ranks 56 of 664 lenders in Boston, where it has reported since 2003. It filed no report for 2022, a gap in the record rather than a year without lending.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Years with no HMDA report from this lender are left out: since 2020 a bank making fewer than 100 closed-end loans a year need not report. MSA Mortgage took 655 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 82.3% · Refinance 17.7%
Conventional 73.4% · FHA 20.3% · VA 6.1% · USDA (RHS or FSA) 0.2% · of 474 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Massachusetts | 394 | 83.1% |
| Florida | 35 | 7.4% |
| Vermont | 33 | 7.0% |
| New Hampshire | 4 | 0.8% |
| Rhode Island | 3 | 0.6% |
| Maine | 2 | 0.4% |
| Alabama | 1 | 0.2% |
| Connecticut | 1 | 0.2% |
| Texas | 1 | 0.2% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Cambridge-Newton-Framingham | 173 |
| Boston | 169 |
| Worcester | 34 |
| Crestview-Fort Walton Beach-Destin | 16 |
| Providence-Warwick | 12 |
| Pensacola-Ferry Pass-Brent | 11 |
| Jacksonville | 7 |
| Springfield | 6 |
| Barnstable Town | 2 |
| Rockingham County-Strafford County | 2 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300CHBB3GN7JFXU86 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 3868621 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 743554784 | |
| Respondent ID (the HMDA filer code before 2018) | 71923800003 | 2003–2015 |
Established 22 March 2001. Reported under HMDA 2003-2025.
Mergers, name changes, data editions and corrections: MSA Mortgage's data.
MSA Mortgage's data
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MSA Mortgage and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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