David Stevens, the MBA's president and CEO, said he is against slicing and dicing business models that favor some special interest groups such as big banks and community banks over others, such as nonbank mortgage lenders, which make up a large part of the MBA's membership. (americanbanker.com)
Two recent Justice Department settlements, one with a large nonbank mortgage lender and the other with a small one, speak volumes about how much Federal Housing Administration lending has changed. (nationalmortgagenews.com)
The study found that the more tech - savvy nonbank mortgage lenders tend to specialize in the refinancing business, where they benefit from the fact that some steps from the home buying process do not need to be duplicated. (americanbanker.com)