Mortgage. Borrow the price of the home against the home itself; repay from future income.
It is a financial instrument.
It exists to relieve Need a shared home before you can afford to own one and The home that fit two does not fit three. That is the whole reason it is here: nothing enters this map without a human problem behind it.
It could not exist without Property law and title records, Banking system and Credit score. These are the quiet preconditions — remove any one and the solution stops working.
Solving that problem created new ones: Lose the home if income drops, Borrower may not repay, Lender's capital is locked for decades, The property may have defects the buyer cannot see and The seller may not truly own what they are selling. Follow those and you find the next generation of products built on top of this one.
It competes with Rental housing for the same friction.
16 organisations in this map sell it, 15 of them publicly listed.
Its neighbourhood
Everything this entry connects to directly. Click any point to follow it.
The line back to a human being
2 hops from a person at a phase of life. The further a thing sits from the person, the more abstract it looks — and the more it tends to be mistaken for something that came from nowhere.
- SolutionMortgage
- FrictionNeed a shared home before you can afford to own one
- Life phaseHousehold formation
- Rooted inScarce resources
- Rooted inShelter
Relieves
Created these new problems
Second-order frictions. This is where most of the modern economy actually lives.
Requires
Who sells it
| Organisation | Value | Type | Products |
|---|---|---|---|
| JPMorgan Chase | $800B | public · JPM | Chase mortgages, Chase credit cards, auto finance |
| Bank of America | $350B | public · BAC | mortgages, credit cards, Merrill wealth management |
| Wells Fargo | $260B | public · WFC | mortgages, home equity lines, credit cards |
| HSBC | $220B | public · HSBA | retail banking, mortgages, wealth in Asia |
| Royal Bank of Canada | $190B | public · RY | mortgages, wealth management, City National |
| Commonwealth Bank of Australia | $180B | public · CBA | mortgages, retail banking |
| HDFC Bank | $170B | public · HDFCBANK | retail banking, mortgages, HDFC Life |
| Banco Santander | $110B | public · SAN | retail banking, auto finance, Openbank |
| BNP Paribas | $90B | public · BNP | retail banking, consumer finance, Arval leasing |
| Rocket Companies | $35B | public · RKT | Rocket Mortgage, Redfin, Mr. Cooper servicing |
| Lennar | $35B | public · LEN | new homes, Lennar Mortgage |
| SoFi Technologies | $20B | public · SOFI | student loan refinancing, personal loans, mortgages |
| Zillow Group | $18B | public · Z | Zillow listings, Zestimate, Zillow Rentals |
| UWM Holdings | $8B | public · UWMC | wholesale mortgage lending |
| PennyMac Financial | $5B | public · PFSI | mortgage origination and servicing |
| Navy Federal Credit Union | mutual | largest US credit union; mortgages, auto loans |