Independent mortgage companies are making almost half of new home loans in the U.S., mirroring lending practices from the subprime crisis. Nonbanks, more loosely regulated than large banks such as JPMorgan Chase, dominate the market for providing loans to borrowers with weak credit and lower incomes, Bloomberg reported. These alternative mortgage providers are particularly active lenders to first-time home buyers — a segment of the market that largely relies on financing backed by government institutions […]
source https://therealdeal.com/2018/05/24/nonbank-lenders-are-cashing-in-on-government-insured-mortgages-for-the-poor/
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