Real Estate Section 20

steps of ginne mae

1. lending institution packs mortgages 2. institution issues MBS 3. ginnie mae guarantees MBS 4. investors purchase MBS shares 5. payments flow from borrower to MBS to investor

what type of loans does fannie mae purchase

FHA, VA, and conventional

what was freddie mac created as

Federal Home Loan Mortgage Corporation (FHLMC

what is the Government National Mortgage Corporation

Ginnie Mae

what activity does Ginnie Mae perform

Guarantees MBSs with the full faith and credit of the U.S.

what types of loans may be eligible for purchase by fannie mae

adjustable rate, fixed rate, renovation, and refinancing

Which of the following is considered an ineligible property type for a Fannie Mae-purchased loan?

agricultural property

what is a more common name for federal national mortgage association (FNMA)

fannie mae

what is the goal of fannie mae

help expand consumer access to mortgage credit

what is Ginnie Mae's mission

help make affordable housing a reality for millions of low- and moderate-income households across America by channeling global capital into the nation's housing markets.

Freddie Mac's mission is to provide ______, stability, and affordability in the U.S. housing market.

liquidity

what are examples of criteria fannie mae uses in the underwriting process

location, type of dwelling, loan to value ratio, property type, debt to income ratio, down payment, credit score, and form of ownership

are three unit properties and single unit commercial spaces eligible for a freddie mac loan

no

does freddie mac issue loans

no