Non-Bank Mortgages on the Rise
Did you know that six of the 10 biggest U.S. mortgage lenders today are not banks? Big names like Citigroup Inc or Bank of America are being overshadowed by “little guys” like Freedom Mortgage. Although Freedom is nowhere near the size of the aforementioned banks, it originated more mortgages than either of them. Freedom has moved up from the 78th-largest mortgage lender in the US in 2012, to the 11th-largest today.