Among the top 10 lenders for the first nine months, six were nonbanks and four were federally insured depositories. However, the number-10 ranked Bank of America is in danger of being overtaken by Guaranteed Rate.
A former aide to Sen. Walter Mondale, Johnson – operating the company in the wake of the nation’s savings and loan crisis – recognized early on that Fannie’s future would hinge on conducting more business with nonbank lenders...
This official speculated that perhaps Calabria was referring to the companies’ corporate culture before the financial crisis, when the politically connected secondary market giants were widely feared on Capitol Hill.