Fannie Mae, Freddie Mac and Ginnie Mac Test
Commercial Banks
Fannie Mae purchases loans most often from which type of financial institution?
A government sponsored enterprise
Freddie Mac is
A government sponsored enterprise
Freddie mac
Liquidity, stability and affordability in the us housing market
Freddie mac's mission is to provide?
Loans insured or guaranteed by US government agencies
Ginnie Mae only guarantees mortgage-backed securities that contain?
Commercial space
In a loan to purchase which of the following property types in NOT eligible for purchase by Fannie Mae
Packaging loans not mortgage-backed securities
Several actions take place on the secondary mortgage market. which of these is a common activity
Ensure funds are available to borrowers
The secondary mortgage market buys loans from the primary market. IN other words it helps?
The secondary market purchases loans from primary lenders and helps keep credit available to loan originators
The secondary mortgage market serves a very important role in real estate finance. Which of these statements best describes that role?
Conforming loan
What type of lean meets certain criteria that are accepted by Fannie Mae and Freddie Mac?
collection
When Fannie Mae purchases a loan, they pay the loan originator a Fee
Fannie mae
Which institution was created as the federal national mortgage association in 1938
Provide stability in the US housing market
Which is the desired outcome of Freddie mac's activities?
Down payment
Which of the following is a guideline used by Freddie Mac when determining if a loan is conforming
Agricultural property and vacant lot
Which of the following is considered an ineligible property type for a Fannie Mae purchased loan?
Provide stability in the US housing market
Which of the following is one of the desired outcomes of Freddie mac's activities?
It sells participation certificates to investors to raise funds to purchase additional sloans from lenders
Which of the following statements at Freddie Mac is correct
A triplex purchased as a primary residence
Which of the following types of properties may be eligible for purchase by Freddie Mac?
Ginnie Mae insures MBSs made up of government-insured or guaranteed loans
Which statement most accurately describes the role and function of Ginnie Mae in the secondary mortgage market
Freddie mac
In terms off function and purpose, which of the following is most similar to Fannie Mae?
Secondary market players
Institutions that purchase loans, package them into mortgage backed securities, then sell these to investors may commonly be referred to as?
