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» VISIT US ONLINE @ DSNEWS.COM 85 employed under its umbrella, and the company expects that number to grow by 10 percent, even in light of their recent bout with the Department of Justice. e added popularity of nonbank lenders in both the market and the employment sector has been attributed to the way in which banks had stricter regulations than nonbank lenders after the housing crisis. With less restrictions, nonbank lenders had more autonomy to lend as they saw fit rather than follow rules set forth by regulatory bodies. By the end of 2016, six of the nation's top 10 lenders were nonbanks, while banks' contribu- tion to new mortgage loans fell to 21 percent. e four banks that made the top 10 were Wells Fargo with 12.55 percent of the market share, JPMorgan (5.95 percent), U.S. Bank Home Mortgage (4.12 percent), and Bank of America (4.07 percent). Nonbanks, which were the top lenders, were Quicken Loans, (4.90 percent), PennyMac Financial Services, (3.37 percent), Freedom Mortgage (2.90 percent), PHH Mortgage (2.01 percent), Caliber Home Loans (2.00 percent), and loanDepot (1.89 percent). Although nonbanks are still cur- rently driving new mortgage loans, President Trump's recent executive order could spur banks to increase their balance sheets. NEBRASKA Bill Aims to Boost Rural Housing In Nebraska, recently passed Legisla- tive Bill 518 will infuse the state's Affordable Housing Trust Fund with $7.3 million to provide affordable housing for new workers. Under the trust, eligible counties are those with populations under 100,000 and the grants will provide for single-family housing up to $275,000 or rental units up to $200,000. e final reading of the bill states that "Current economic conditions and limited availability of modern housing units impact the ability of Nebraska's rural communities to recruit and retain a world-class workforce. A lack of workforce housing affects the ability of communities to maintain and develop viable, stable, and thriving economies. A housing shortage in rural areas also impacts the ability of local private, nonprofit, and public employ- ers to grow and prosper." Furthermore, the bill states that grants will be awarded based upon: » A demonstrated and ongoing housing need as identified by a recent housing study; » A community or region that has a low unemployment rate and is having difficulty attracting workers and filling employment positions; » A community or region that exhibits a demonstrated commitment to growing its housing stock; » Projects that can reasonably be ready for occupancy in a period of 24 months; and » A demonstrated ability to grow and man- age a workforce housing investment fund. "[W]e're talking nearly $15 million that can be spread around the state, focused on either single-family dwellings, rental units, or rehab- bing existing units in a community. Many of our communities, especially rural communi- ties, have older homes that could be and will with this program be rehabbed to become suitable workforce housing," said bill sponsor Sen. Matt Williams of Gothenburg, according to the Nebraska Radio Network. THE LEADER IN DEFAULT SERVICING NEWS Help shape the next issue of DS News. Drop us a line at Editor@DSNews.com. The percentage home prices are rising in Nebraska. Source: 2017 Home Price Index report by Black Knight Financial Services STAT INSIGHT 1.9%