from a partner you can trust.
The most trusted choice is a mortgage lender with staying power
Innovation and change are transforming the lending experience for our
customers, while our products, relationships, and culture form a mortgage
brand with staying power.
Our commitment to doing the right thing for our customers at every
opportunity has earned us the designation of one of the World’s Most Ethical
Companies® from the Ethisphere Institute for four years in a row. Partner with
us as we blend what works in mortgage lending with what’s to come.
Recognized by Freddie Mac as one of the top originators of Freddie Mac
Home Possible® mortgages.
Ready to get started?
Find your account executive at usbank.com/correspondent.
“World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC. This document is not a Consumer Credit
Advertisement and is intended for Correspondent use only. This information is provided to assist Correspondents and is not a consumer credit advertisement as defined
by Regulation Z. Please consult the Seller Guide on our website for more details ( https://sellus.usbank.com). Loan approval is subject to credit approval and program
guidelines. Not all loan programs are available in all states for all amounts. Interest rates and program terms are subject to change without notice. Visit usbank.com to
learn more about U.S. Bank products and services. Mortgage and Home Equity products are offered by U.S. Bank National Association. Deposit products offered by
U.S. Bank National Association. Member FDIC ©2018 U.S. Bank. 18-0172-B (4/18) CR-15838466
U.S. Bank overview
• 6th largest
• 5th largest U.S.
commercial bank with
more than $462 billion
in assets and a loan
portfolio of $280 billion
• 18. 7 million customers
• Available in all 50
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the process more user-friendly with
online applications and electronic connections to the IRS and bank accounts.
Borrowers and investors alike can use
the platform during times that work
best for them, which might be after
dinner or late at night after the kids are
need to make their own judgment calls
as to whether they have all the information they need at their fingertips to
apply for a loan or to make an investment decision with an alternative lender.
In addition, consumers might assume
going into a brick-and-mortar bank or
mortgage office would provide them
with superior customer service, but
that isn’t necessarily the case. Applying for a mortgage can certainly be a
lesson in patience. Alternative lenders
shine in this area because they make
Many alternative lenders are still new.
They are evolving as they grow and
mature to incorporate best practices.
The older ones have less than 10 years
of experience and the newer ones
may only have a handful of years of
operating history. Most haven’t been
tested during recessionary times, so it’s
unknown how they might perform in a
severe economic downturn.
Among the other challenges the
industry will face as it matures is cybersecurity. This must be top of mind for
all alternative lenders who operate entirely online. As criminals become more
sophisticated, so too must the lenders — to avoid a wide variety of cyber
crimes that have hit the financial industry, including ransomware attacks
targeted against community banks.
Ransomware attacks, which often required payments in Bitcoin to regain
access and prevent permanent data
destruction, are growing at a yearly rate
of 350 percent, according to the Cisco
2017 Annual Cybersecurity Report.
As the alternative-lending industry
grows in size, interest from regulators
also is increasing. There is no one regulatory body assigned to oversee alternative lending, so keeping track of the
many regulatory agencies potentially
involved can be time-consuming and
complicated. To date, there has been
regulation or oversight powers exerted
by a variety of different entities, including the U.S. Securities and Exchange
Commission, the Consumer Financial
Protection Bureau and the U.S. Office of
the Comptroller of the Currency.
Congress has dozens of bills currently pending that could affect financial
technology sector, several of which
could impact alternative lending such
as legislation to expand and improve
mobile-device banking, the use of alternative data to expand access to credit,
and a bill to require the IRS to automate
certain data. Certainly, it remains to be
seen what will happen in the halls of
Congress, but there appears to be a significant amount of bipartisan interest
in this area, with the goal of ensuring
the sector works efficiently while still
offering consumer protections.
The alternative-lending industry is still
young and will continue to evolve as
it matures. Mortgage originators will
want to keep track of the latest news in
the industry to see if new entrants, new
products and new services could benefit their clients. ■
“As the alternative-lending industry
grows in size, interest from regulators
also is increasing.”