Residential mortgage loan activity remained strong in 2017, as the purchase market surged despite rising home prices and tight inventory. Interest rates remained relatively stable for the year, resisting signals that seemed to indicate a rising rate environment. BayCoast Bank, in an effort to make it even easier for consumers to apply for financing, launched its mobile mortgage application in 2017. Since its launch, we have seen rapid borrower acceptance as nearly 30% of applicants used their mobile device to begin the process for a home purchase, equity loan or refinancing. Additionally over 80% of loan applications were accepted through our website. BayCoast Bank offers excellent rates and products to assist home buyers and home owners with every facet of real estate financing. Our Fixed Rate First Time Home Buyer Program offers great rates and terms to those borrowers who are embarking on their first home purchase. Construction lending is an area where local expertise and a community–focused lender with exemplary service can provide a distinct advantage to a borrower seeking to build or remodel their dream home. Many lenders have pulled back substantially on their construction lending activity due to the inherent risks associated with this type of lending. Construction loans require special skills and handling to ensure a smooth process for the builder and borrower. Some borrowers may find themselves with a home half-built, and their lender withholding the funds needed to complete the project. That was the situation for the Downing family. Their new home construction was only partially complete when their original lender, a large regional financial institution, decided not to continue financing the project. That’s when BayCoast Bank stepped in, with Mortgage Loan Officer, Rick Jalbert, working with the Downings to ensure they secured the funding they needed to complete the construction. Michael Downing (right) says he truly understands the value of a local community bank, and his appreciation for BayCoast was so great, he took the unusual step of installing a sign in his front yard thanking the bank for being there for him when his original lender deserted him. While BayCoast Bank continues to provide home loans of all kinds throughout our local market, we also lend to a broader geography through our subsidiary, BayCoast Mortgage Company, formerly known as NFC Mortgage Company. The new name leverages the BayCoast reputation for excellence, integrity and high quality service in a competitive marketplace. With an expanded roster of loan products and increased digital outreach to borrowers and realtors, BayCoast Mortgage continues to provide residential mortgage purchase and refinance options, including FHA, VA, Conforming and Jumbo Loans. Additionally, borrowers who do not meet conventional underwriting guidelines may benefit from BayCoast’s unique portfolio loan products. BayCoast Mortgage Company serves Massachusetts, Rhode Island, Connecticut, New Hampshire, Pennsylvania, New Jersey, Maryland, Virginia, South Carolina, North Carolina and Florida. Home Loans Rick Jalbert, Mortgage Loan Officer Michael Downing, Homeowner We understand that our consumers expect more digital channels for their banking and borrowing needs, yet they will always appreciate the personal guidance provided by our mortgage team.