Secondary Market - Correct Answer A Market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages
FNMA - Correct Answer Federal National Mortgage Association (Fannie Mae)
Savings & Loan Lender - Correct Answer have their origins in th...
Mortgage Loan Originator
Fundamentals Chapters ( 1 - 2) Key
Terms (ANSWERED)
Secondary Market - Correct Answer A Market for the purchase and sale of existing mortgages designed
to provide greater liquidity for selling mortgages
FNMA - Correct Answer Federal National Mortgage Association (Fannie Mae)
Savings & Loan Lender - Correct Answer have their origins in the social goal of pursuing home-
ownership. The most important purpose of these institutions is to make mortgage loans on residential
property.
Mortgage Broker - Correct Answer Are independent contractors who offer the loan products of multiple
lenders called wholesalers
Servicing Fee - Correct Answer Charges such as loan fees and the interest the customer pays on the
loan.
Warehouse Line of Credit - Correct Answer A line of credit extended by a franchiser institution to a loan
originator to fund a mortgage that a borrower initially used to buy a property. the loan typically lasts
from the time it is organized to when the loan is sold into the secondary market, weather directly or
through a secularization
FHLMC - Correct Answer Federal Home Loan Mortgage Corporation
Primary Market - Correct Answer The market where borrower and mortgage lenders come together to
create and negotiate terms of a mortgage transaction.
Mortgage Banker - Correct Answer Is generally a person, corporation, or firm not otherwise in banking
and finance that provides its own funds for mortgage financing
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