Tag Archives: non-bank lenders

MReport speaks with lending experts about the benefits of challenges facing depository lenders vs. nonbanks.

According to a new report, the average FICO score of an American mortgage borrower has hit its lowest point since 2008. Currently, the average borrower has a FICO score of just 729. Broken down by lender type, borrowers of bank-originated loans have an average FICO score of 743, while borrowers of independent, non-bank loans have an average score of 719.

By the end of 2016, six of the nation’s top 10 lenders were non-banks, but that trend may not continue in 2017.