nonbank

American

[non-bangk, non-bangk] / ˈnɒnˈbæŋk, ˈnɒnˌbæŋk /

noun

an institution that is not a bank but engages in certain banking bank practices, as lending money or holding deposits.

adjective

of, relating to, or handled by a nonbank.

nonbank loans.

Etymology

Origin of nonbank

First recorded in 1945–50; non- + bank ²

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

In the time since, a growing share of mortgage lending and servicing has gone through nonbank entities like Rocket, with the loans ultimately going into the securitization market.

From The Wall Street Journal

The Fed also said that borrowers were more likely to receive forbearance during Covid-19 when a bank was servicing their mortgages as opposed to a nonbank.

From The Wall Street Journal

Meanwhile, the emergence of technology-driven nonbank lenders has started to change key parts of the mortgage business radically.

From The Wall Street Journal

Having to make big investments in technology to match the servicing capabilities of nonbank peers would be an additional hurdle.

From The Wall Street Journal

Shares of banks have recently outperformed their nonbank mortgage rivals, even against the backdrop of falling mortgage rates, which ought to be a big boost to refinance activity.

From The Wall Street Journal

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023