Non Banks rethink the lending marketplace.

After underwriting loans at Citigroup just after the 2008-’09 recession, David Snitkof concluded that even in a healthy economy there had to be a better way to lend. Banks were pulling back from making loans of all kinds, and the market seemed increasingly unattractive to everyone but distressed-debt investors. Many institutional investors weren’t comfortable with that kind of risk, so opportunities to buy debt dried up.

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