Non-Bank Lender

Non-bank lenders originate mortgages without holding a banking charter or taking customer deposits. They fund loans using warehouse credit lines and sell most of them into the secondary market or to private investors. Rocket Mortgage, UWM, and most specialty lenders (including crypto-backed mortgage providers) fall in this category.

Because non-bank lenders aren't subject to the same regulatory capital constraints as banks, they often move faster, specialize in specific borrower niches, and offer more product flexibility. Over 60% of U.S. residential mortgages are originated by non-banks today.

Why it matters for Milo customers

Milo is a non-bank lender by design — that's what lets us underwrite crypto collateral, custody Bitcoin and Ethereum through Coinbase and BitGo, and ship products that traditional banks haven't gotten regulatory approval for.

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