A clustered bar chart showing that nonbank lending exceeds the share of bank lending to low and moderate income borrowers.
Source: Authors’ calculations based on 2015–19 American Community Survey data and 2021 Home Mortgage Disclosure Act data.
Notes: IMB = independent mortgage bank; LMI = low- and moderate-income. Data are for closed-end one-to-four-unit single-family owner-occupied purchase loans.