OVER 50 YEARS OF SERVICE
Home Loan has provided customers with competitive home equity loans, knowledgeable advice, and financial guidance since 1959, and we have the strength and longevity to continue meeting this goal into the future.
IMPORTANT DATES IN HOME LOAN'S HISTORY
The State of Rhode Island Department of Business Regulation grants a state charter under the name Home Loan & Investment Association (Home Loan)
Founder John M. Murphy purchases the Home Loan bank charter and begins to build the bank as we know it today by reactivating the charter for mortgage lending purposes
Home Loan Investment Bank opens its first headquarters in Providence, Rhode Island
Home Loan begins lending to small businesses of all types and specializes in the Small Business Administration's SBA 7(a) loan program
Residential lending expands from the Northeast region to the Mid-Atlantic region
Assets exceed $60 million. Home Loan Investment Bank becomes the first mortgage originator to sell a pool of home equity loans to Freddie Mac and the second to Fannie Mae
Assets exceed $100 million
FDIC deposit insurance granted
Assets exceed $200 million
Home Loan completes its first loan securitization, and also reactivates its SBA Lending Program
Assets exceed $250 million. Home Loan opens its new corporate headquarters at One Home Loan Plaza in Warwick, Rhode Island
Home Loan converts its state charter to a federal charter and becomes a Federal Savings Bank under the new name Home Loan and Investment Bank, FSB (HLIB)
HLIB opens state-of-the-art call center
Residential lending expands to the West Coast
HLIB receives SBA "Preferred Lender" status in Rhode Island, Massachusetts, New Hampshire and New York
HLIB receives "Outstanding" rating for Community Reinvestment for the 10th consecutive year
Commercial lending expands into Mid-Atlantic States. HLIB begins offering USDA loans
HLIB surpasses $10 billion in residential mortgage originations
HLIB is recognized as one of Freddie Mac's top 150 lenders in the country. HLIB creates a new brand for its commercial lending division, Ocean Capital, and begins marketing under the new brand
HLIB became the 26th ranked SBA lender in the country. This leap marked the 6th largest volume increase in the country and a 104% increase in year-over-year SBA production (i.e. $40 million to $82 million)
HLIB becomes a top 30 SBA 7(a) lender by origination volume nationwide and also a top 5 USDA Business and Industry lender by origination volume nationwide
Top 100 SBA lender by volume. Started Title One - #3 in the country.
Started Automobile Finance. Surpassed $10 million in the first twelve months of operation.
Brian Murphy appointed Chairman of the Board and named Chief Executive Officer as of January 1, 2017.