Next Mortgage Default Tsunami Isn’t Going to Drown Big Banks but “Shadow Banks”
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter As banks pull back from mortgage lending amid inflated prices and rising rates, “shadow banks” become very aggressive. In the first quarter 2018, banks and non-bank mortgage lenders – the “shadow banks” – originated 1.81 million loans for residential properties (1 to 4 units). In the diversified US mortgage industry, the … Read more