Just seven years after the housing crash, nonbank lenders are providing mortgages to people who went through a foreclosure or filed for bankruptcy.
According to Realtor.com, nonbank lenders are opting to give risky borrowers a second chance as mortgage originations for those who have recently been through a major financial setback and are back on their feet. Mortgage originations from risky borrowers are expected to top $5 billion this year, up from approximately $3 billion in 2014.
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