FOR IMMEDIATE RELEASE
September 11, 2001
With Loans Exceeding $2 Billion, Leader Mortgage Celebrates
15th Anniversary
Company has helped more than 17,000 families achieve home ownership with total loans exceeding $2 billion during the last 15 years
ARLINGTON, Mass. (September 11, 2001)—Leader Mortgage Company (www.Leadermortgage.com), one of Massachusetts’ leading mortgage lenders that has helped more than 17,000 families achieve their American dream of home ownership during the last 15 years, is celebrating its 15th anniversary this week.
Founded on Sept. 8, 1986 by Sushil K Tuli, its current Chairman and CEO, Leader Mortgage has grown from a one-man operation in a single-room office in Boston’s Chinatown to its current size of 43 employees in a 7,000 square foot office space in Arlington, Mass.
“This is a definite benchmark occasion for Leader Mortgage. In this day and age, it’s difficult for some banks to last 15 years; for mortgage companies, it’s even more difficult,” said Mr. Tuli, Chief Executive Officer of Leader Mortgage. “When I started this company 15 years ago, I saw there was a need for immigrants to this country to have additional help in fulfilling their American dream of home ownership. I founded Leader Mortgage with the intention of meeting that need, and it has helped thousands of families for many years.”
Since 1986, Leader mortgage has helped more than 17,000 families finance their homes. The company has provided loans in excess of $2 billion during the last 15 years.
“We have earned recognition as one of the most reputable mortgage lenders in the region,” said Mr. Tuli, a resident of Belmont, Mass.
“Though Leader’s primary business is financing residential mortgages, it has also helped numerous commercial customers to finance offices and apartment buildings,” said James Madigan, President of Leader Mortgage and a resident of Lexington, Mass.
Leader Mortgage earned Fannie Mae’s Technology Leadership award in 1999, and was recognized by former Massachusetts Governor William Weld in 1993.Leader Mortgage has also been named a top-10 Indian financial institution by leading Indian-American newspaper India Abroad for three consecutive years.
In addition to providing services to home buyers through Leader Mortgage, Mr. Tuli has been active in other aspects of the financial services industry. In 1999, he served as chairman of the Massachusetts Mortgage Bankers Association, and he is currently a member of Fannie Mae’s national advisory board. Mr. Tuli recently received approval from the Office of Controller and Currency and FDIC to found a new national bank, which is expected to open by early 2002.
Leader Mortgage is licensed in Massachusetts and New Hampshire. The company was among the first mortgage companies to become licensed in Massachusetts when licensing became mandatory in the early 1990s.
About Leader Mortgage
Leader Mortgage Company, Inc., a privately held mortgage lender, was founded in 1986, and provides residential conventional and Jumbo mortgages throughout Massachusetts. Since its inception, Leader Mortgage has financed over $2 Billion in residential and commercial mortgages. Recently, Leader Mortgage was awarded Fannie Mae’s Technology Leadership Award. Leader is a Fannie Mae, Freddie Mac and FHA approved lender. Leader Mortgage also participates in the City of Boston’s “House Boston” program and is an approved MHFA lender.
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