Multiple Choice
In the late 1960's, Congress created a number of agencies designed to address a struggling secondary market for residential mortgages. Which of the following organizations was developed primarily to guarantee mortgage-backed securities based on pools of FHA, VA and Rural Housing Service loans, rather than issue, buy or sell mortgages?
A) Federal National Mortgage Association (Fannie Mae)
B) Government National Mortgage Association (Ginnie Mae)
C) Federal Home Loan Mortgage Corporation (Freddie Mac)
D) Federal Agricultural Mortgage Corporation (Farmer Mac)
Correct Answer:
Verified
Correct Answer:
Verified
Q12: In the process of deciding whether to
Q13: In ascertaining whether a borrower has the
Q14: In the early 1970's, home mortgage lenders
Q15: The traditional approach to loan underwriting has
Q16: Throughout the process of originating and selling
Q18: When a mortgage is used as collateral
Q19: A lender is considering whether to approve
Q20: Mortgage banks typically will attempt to sell
Q21: Traditional home mortgage underwriting is said to
Q22: The Federal National Mortgage Association (Fannie Mae)