Nonbank Lenders Are Dominating the Mortgage Market

Source: The Wall Street Journal — 

Americans took out more mortgages than ever before in 2020. Most of them didn’t come from banks.

Nonbank mortgage lenders in the U.S. issued 68.1% of all mortgages originated in 2020, up from 58.9% in 2019, according to industry research firm Inside Mortgage Finance. That is their highest market share on record and their biggest yearly gain since 2014.