A warning siren has been sounded about the risk from the growth in market share of non-bank mortgage originators and servicers.
Around half of all mortgages opened in 2016 were originated by non-bank home lenders. The share was the highest it’s been since 2000.
On loans insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs, 75 percent were originated by non-banks.
Source: Mortgage Daily