For the third straight year, in 2018, marketplace lenders held the top spot in the unsecured personal lending space. Meanwhile the share of banks dropped to 28%.
California remains the mother lode for Fannie Mae and Freddie Mac. In the first six months of 2019, the GSEs purchased $58.1 billion in loans from the Golden State.
Although the non-QM portion of the non-agency market accounted for less than $10 billion in 2018, it could absorb more than $50 billion in former patch loans if it continues its current annual growth rate.
On the issue of FHFA’s constitutionality, the court ruled for the plaintiffs. But rather than invalidate the net worth sweep, the court struck the “for-cause” provision from HERA.