Fannie Mae, Freddie Mac and Ginnie Mac Test

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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?


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