The industry is currently divided between traditional banks, non-bank lenders, and specialized brokerage firms. Revista de Economia Política Internacional
The 1944 GI Bill created the VA loan program , allowing veterans to purchase homes with no down payment, further entrenching homeownership as a pillar of the "American Dream". american mortgage financial
The establishment of the Federal Housing Administration (FHA) in 1936 and Fannie Mae in 1938 transformed the market by introducing government-insured loans and creating a secondary market to provide liquidity to local banks. The industry is currently divided between traditional banks,