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Terry Story’s Real Estate Survival Guide podcast includes her weekly round-up on NPR's "The Steve Pomeranz Show," WLRN and affiliates. The show provides expert advice in all aspects of the real estate transaction from listing to negotiations; to sales and purchase and everything in between.
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Monday Dec 03, 2018
Monday Dec 03, 2018
Non-Bank Mortgage Lenders
In the past, if you wanted a mortgage, you’d go to a bank. But today, non-banking financial institutions have entered the mortgage-lending business. As a result, it’s much easier to get a mortgage loan today.
In her own experience, Terry Story finds that getting loans from non-bank mortgage lenders is far easier, quicker, and more convenient.
Non-bank lender, Quicken Loans, for instance, is the third largest mortgage originator after Wells Fargo and JP Morgan Chase.
Steve attributes this to fewer regulations on non-bank mortgage lenders than on banks, which were chastened for the 2007 mortgage crisis. (926)
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