Non-bank lenders could soon own 7% of the US banking system's profits

on.ft.com

Last year online lenders accounted for a record 38% of the $1.2 trillion US mortgage origination market, up from 27% the year before. Goldman Sachs estimates that such non-bank lenders, which tend to enjoy lower overheads and lighter supervision than traditional banks, could siphon off over the next five years at least $11bn of annual profits from the banking system, or about 7% of the total.

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