For the first time in 30 years, depository institutions like banks and credit unions are no longer making the majority of home mortgages.

Non-banking companies, such Quicken Loans or Penny Mac — in the third quarter made up 51 percent of the home loans out there, that’s according to the trade publication Inside Mortgage Finance.

So what’s going on here? Is this a move on the banks part to reduce risk? And what happens if we run into another downturn in the economy? 

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