How the “Existing Relationship” Exception Became a Competitive Weapon for Depositories – and How Non-Banks Can Counter
How can non-bank lenders circumvent the competitive advantages depositories gain from the mortgage trigger-lead ban’s “existing relationship” exception? The trigger-lead ban heavily favors depository institutions and large servicers by allowing them to market to their established consumer books while locking non-bank competitors out of traditional third-party inquiry channels. To push back, non-bank lenders must deploy…