A government-backed lender
Loans insured by the Federal Housing Administration (FHA) made up 38.5% of its lending, against 22.7% at similar lenders, independent non-bank lenders making between half and twice as many loans. Another 10.0% were guaranteed by the Department of Veterans Affairs (VA) and 5.2% by the Department of Agriculture's Rural Housing Service (RHS), against 0.4% at peers. Its FHA share was 20.4% in 2020.