Sentences with phrase «nonbanks accounted»

Among the top 40 lenders, nonbanks accounted for 37.5 percent of originations in 2014, up from only 7.5 percent in 2011, says Guy Cecala, publisher of Inside Mortgage Finance.

Nonbanks accounted for more than than 70 % of Federal Housing Administration loans as of July, and Quicken is the second - largest mortgage provider in the U.S.

Not exact matches

The major distinction between banks and nonbanks is that nonbanks focus on loans, rather than taking deposit accounts like checking and savings and aren't as tightly regulated as traditional banks.

Any nonbank servicer that handles more than one million borrower accounts will be subject to supervisory authority under the rule.

The CFPB's rule subjects any nonbank student loan servicer that handles more than one million borrower accounts to CFPB supervisory authority.

The report says that nonbank lenders in 2016 accounted for half of all mortgages, up from a 20 % share in 2007.