nonbank

noun, often attributive

non·bank | \ ˌnän-ˈbaŋk

How to pronounce nonbank (audio)

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Definition of nonbank

: a business that is not an officially established bank but offers many similar services

Examples of nonbank in a Sentence

Recent Examples on the Web The median gain-on-sale margin for mortgage banks and nonbank lenders dropped from 2.74% in the third quarter to 2.14% in the fourth quarter, according to Piper Sandler Cos. — Orla Mccaffrey, WSJ, "Mortgage Companies Want In on the IPO Boom. Investors Aren’t Convinced.," 26 Feb. 2021 That poses risks for the industry, in particular the nonbank lenders that extended the majority of mortgage credit so far this year. — Ben Eisen, WSJ, "Mortgage Originations Are on Pace for Best Year Ever," 10 Dec. 2020 The space is dominated by nonbank lenders such as credit funds and real-estate investment trusts that have grown to become a major force in commercial real-estate finance in recent years. — Cezary Podkul, WSJ, "Wall Street-Funded Plan to Gentrify Affordable Housing Crumbles in Harlem," 25 Oct. 2020 Liquidity can be a concern for nonbank lenders such as Quicken, which don't take deposits and typically borrow the money to make their loans through lines of credit with banks and other financial institutions. — Susan Tompor, Detroit Free Press, "Quicken Loans IPO: Why it may need the cash and who gets rich," 20 June 2020 Shaky Foundations The rise for nonbanks in the mortgage sector and now their pain shows the shaky ground on which much of the post-crisis financial world has been built. — Joe Light, Bloomberg.com, "Mortgage Firms Teeter Near Crisis That Regulators Saw Coming," 10 May 2020 The rise of nonbank lenders, which often operate with thinner capital margins than traditional mortgage lenders, has been a source of concern for regulators for several years. — Emily Flitter, New York Times, "Bankers Pledge Mortgage Help, but Want Billions," 23 Mar. 2020 So much of the credit formation has been in the leveraged lending market and the ultimate suppliers are nonbanks. — James B. Stewart, New York Times, "It’s a ‘Swimming Naked’ Moment: The Financial System Has a Real Test," 10 Mar. 2020 Stronger players—both banks and nonbanks—have been picking up servicing rights from weaker lenders that need to raise cash. — Ben Eisen, WSJ, "The Hot Trade in the Housing Market: Servicing Your Mortgage," 13 Feb. 2019

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'nonbank.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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Last Updated

4 Mar 2021

Cite this Entry

“Nonbank.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/nonbank. Accessed 4 Mar. 2021.

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More Definitions for nonbank

nonbank

adjective

non·bank | \ ˌnän-ˈbaŋk \

Legal Definition of nonbank

: being, done by, or involving some entity other than a bank nonbank lenders a nonbank depositor

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