Banks, credit unions, brokers and nonbank lenders, mapped side by side
Nonbank and online lenders
On the map
A nonbank lender is a company that makes mortgages but does not take deposits. Many are large and operate mostly online or by phone. They typically fund loans with credit lines and sell them after closing. They are licensed by each state where they lend and are subject to federal consumer rules enforced by the CFPB.
Last reviewed against the primary sources listed below.
How they work
- Funding through warehouse credit lines, then sale to investors.
- Licensed state by state, so check your state on Consumer Access.
- Complaints appear in the CFPB database.
Online-only considerations
- Who is your named contact?
- How documents are uploaded and protected.
- Whether a local appraiser and title company will be used.
Common questions about where to apply
What is a nonbank lender?
A mortgage company that does not take deposits. It funds loans through credit lines and usually sells them after closing.
Are online mortgage lenders safe?
Many are licensed and regulated. Verify the license, read the complaint record and compare Loan Estimates before sharing documents.