Everybody may be joking about news reports that Wal-Mart (WMT) could jump into the mortgage lending business.

But writer Michele Bowman with Lawyers.com has an article on NuWire investor where she suggests frustrations with traditional banks and fears over how loan securitization previously functioned may have made non-bank lenders more popular to new homeowners.

The only downside, she said, would be if non-bank companies decide to eventually securitize loans and sell them off since that is where borrowers previously became wary.

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