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)