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NEW YORK (CBSMiami) – Big banks are walking away from low-income homebuyers, leaving “non-bank” financial institutions to fill the gap.

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In fact, the nation’s largest mortgage lender isn’t a bank at all.

A new report from the Consumer Financial Protection Bureau highlights a decline in low and moderate-income borrowers. In 2009, low and moderate-income earners made up 36.6 percent of borrowers. That figure sank to 26.3 percent by 2017.

There are a number of factors.

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Rising housing costs have priced some people out of the market and the federal government’s crackdown on subprime lending following the financial crisis.

But the new data shows a surprising shift in who is lending. Low interest rates and high regulatory costs have pushed big banks away from the mortgage business leaving independent mortgage companies — or “non-banks” — to pick up the slack.

Last year, Quicken Loans, an online non-bank, passed Wells Fargo as the nation’s highest volume lender.

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Experts worry that non-banks are often relatively new and privately owned which makes it difficult for them to assess risk and absorb losses when the market takes a downturn. They feel the shift away from traditional lenders could increase volatility in the mortgage market.