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- Title
The Rise of Nonbank Mortgage Lending: The unbundling of originating, servicing, funding, and investing of mortgages has been driven largely by regulatory arbitrage.
- Authors
CALABRIA, MARK
- Abstract
The article discusses the shift in the mortgage market from traditional banks to nonbank financial service companies. These nonbank lenders, such as Lakeview, PennyMac, Carrington, LoanDepot, and NewRez, have gained prominence in originating and servicing mortgages. The article explains the roles of originators and servicers in the mortgage process and highlights the complex landscape of the mortgage industry, where originators can also be servicers and vice versa.
- Subjects
SECONDARY mortgage market; NONBANK financial institutions; BANKING industry; LAKEVIEW Bank (Company); PENNYMAC Corp.; MORTGAGE banks
- Publication
Regulation, 2023, Vol 46, Issue 2, p18
- ISSN
0147-0590
- Publication type
Article