Smaller Mortgage Lenders Lead Field
Big banks have been retrenching from the mortgage business recently, leaving smaller players to pick up larger pieces of business. As of the third quarter, smaller mortgage players held a 60 percent market share of the U.S. origination market, up from 39 percent in 2009, according to industry publication Inside Mortgage Finance. The trend is opening up opportunities for small companies such as loanDepot.com, regional banks such as M&T Bank and larger mortgage players like Quicken Loans.
From "Smaller Mortgage Lenders Lead Field"
Wall Street Journal (12/05/13) Raice, Shayndi
Big banks have been retrenching from the mortgage business recently, leaving smaller players to pick up larger pieces of business. As of the third quarter, smaller mortgage players held a 60 percent market share of the U.S. origination market, up from 39 percent in 2009, according to industry publication Inside Mortgage Finance. The trend is opening up opportunities for small companies such as loanDepot.com, regional banks such as M&T Bank and larger mortgage players like Quicken Loans.
From "Smaller Mortgage Lenders Lead Field"
Wall Street Journal (12/05/13) Raice, Shayndi
Small Banks Fear Regulation 'Tidal Wave'
Advocates of small banks and credit unions say that rules intended to protect consumers from abuse by major Wall Street banks have ended up hurting smaller institutions and could force them out of business. Lawmakers on both sides of the aisle seem open to possible fixes to blunt impacts on smaller institutions from the Consumer Financial Protection Bureau (CFPB) and other agencies. Over the summer, Sen. Elizabeth Warren (D-Mass.), one of the most vocal advocates for financial reform in Congress and the architect behind the CFPB, suggested a two-tiered banking regulation for large and small institutions. Multiple legislative efforts to give regulatory relief to small banks and credit unions are currently working their way through Congress, though few have gained much traction.
From "Small Banks Fear Regulation 'Tidal Wave'"
The Hill (12/04/13) Hattem, Julian
Advocates of small banks and credit unions say that rules intended to protect consumers from abuse by major Wall Street banks have ended up hurting smaller institutions and could force them out of business. Lawmakers on both sides of the aisle seem open to possible fixes to blunt impacts on smaller institutions from the Consumer Financial Protection Bureau (CFPB) and other agencies. Over the summer, Sen. Elizabeth Warren (D-Mass.), one of the most vocal advocates for financial reform in Congress and the architect behind the CFPB, suggested a two-tiered banking regulation for large and small institutions. Multiple legislative efforts to give regulatory relief to small banks and credit unions are currently working their way through Congress, though few have gained much traction.
From "Small Banks Fear Regulation 'Tidal Wave'"
The Hill (12/04/13) Hattem, Julian
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