Banks have been walking away from low-income homebuyers seeking loans, and that has affordable housing advocates worried. Big banks are moving away from mortgage lending entirely, while independent mortgage companies — or "non-banks" — pick up the slack. Non-bank mortgage lenders just do mortgage lending, for example. "So a number of banks have de-emphasized their mortgage lending, because there are other business lines they can focus on." But advocates for low-income homebuyers charge that banks are simply retreating to a more lucrative segment of the market.

Source: CNN May 11, 2018 10:30 UTC