Big banks continue retreat from mortgages. Wall Street banks are backing away from mortgages as nonbank lenders emerge.

CNBC reports:

Big banks are lending less to homebuyers, or they're making less on loans — and sometimes, it's a combination of both.

Some are making less on home loans, in part owed to the Fed and its years long zero interest rate policy. But the trend also coincides with a rise in nonbank lenders, like Quicken Loans, that have been gobbling up market share in mortgages in recent years.

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