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In past columns, you have probably noted the words "lending institutions". Just who or what are these lending institutions who finance home loans?
Historically, the nation’s major suppliers of residential mortgages have been financial institutions such as savings and loan associations, mutual savings banks and commercial banks. They have accounted for as much as 87 percent of total residential financing in years when deposit savings have been plentiful, and as little as 70 percent in a year, such as 1969. when new savings deposits fell to a very low level and credit generally was scarce.
Life insurance companies also pay a significant role in the
83.2%