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