This chart should scare you; is the mortgage market in for a 2008 wreck; average down not even close to 20%
Article originally posted on Fairview Lending
The federal government in their quest to shore up the mortgage market in 2008 has created some new risks to the housing market. Non bank lenders now make up 74% of the origination volume with only 3 banks even making the list. What does this mean for the mortgage market and in turn the housing market? Why are non bank lenders now making up such a large share of originations? Do we have another large scale “wreck” coming our way? (more…)