In the aftermath of the 2008 economic crash and the 2010 Dodd-Frank Act, the level of bank participation in the residential origination market has subsided, creating a surplus of opportunity for nonbank lenders. Indeed, a recent survey released by Harvard University has determined that nonbank lending institutions increased their market share of agency purchase mortgage originations from 27 percent in mid-2012 to 48 percent in late 2014.

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