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What is the difference with primary market mortgage and secondary market mortgage?
The Primary Mortgage is that relationship that exists between a lender and a potential borrower. on the other hand, the Secondary Mortgage Market is the relationship that exists after the loan is closed and the lender markets the collateral of that loan for sale to an investor.
Freddie mac was originally chartered to create a secondary market for which type of mortgage loans?
conventional loans
How can you find out if your mortgage is insured by fannie may or Freddie mac?
FNMA & FHLMC are not insurers they buy mortgages in the secondary market. FNMA & FHLMC can "own" your mortgage but your mortgage would be insured by a "Private Mortgage Insurance" (PMI) Company.
What is Fanny Mae's mission statement?
Fanny Mae is the Federal National Mortgage Association. It was founded in the year 1938. Its mission statement is to expand the secondary mortgage market.
Why do you need secondary market?
In short: to provide liquidity For example, before the secondary market for mortgages a bank would hold the mortgage and gradually get their cash back over many years. With the secondary market they can sell the mortgage, getting back immediate cash for the value of those future cash flows. If I hold stock in a non-traded company I may have to hold the stock for a long time, hoping to benefit from dividends or finding someone to buy it from me. With a secondary market I could create a "sell" order and accept the highest bid in the market, receiving cash for my stock quickly.
What is the difference with primary market mortgage and secondary market mortgage?
The Primary Mortgage is that relationship that exists between a lender and a potential borrower. on the other hand, the Secondary Mortgage Market is the relationship that exists after the loan is closed and the lender markets the collateral of that loan for sale to an investor.
What does a secondary mortgage market deal with?
The term 'second mortgage market' refers to all the people who have taken a second mortgage out on a property. This market has dramatically increased in size given the recent economic conditions in the housing market.
Under what circumstances are secondary market transactions needed?
Secondary market transactions may be needed to correct interregional imbalances in the supply of and demand for mortgage credit, or to move mortgage assets from one type of institution to another within the same market area
Freddie mac was originally chartered to create a secondary market for which type of mortgage loans?
conventional loans
What has the author Michael D Grace written?
Michael D. Grace has written: 'Alternative mortgage instruments and the secondary market' -- subject(s): Mortgage loans
What does the feral national mortgage association do?
The Federal National Mortgage association expand the secondary mortgage market and make mortgages secure. The allow lenders to invest their assets into more lending ventures.
What is Fanny Mae's mission statement?
Fanny Mae is the Federal National Mortgage Association. It was founded in the year 1938. Its mission statement is to expand the secondary mortgage market.
How can you find out if your mortgage is insured by fannie may or Freddie mac?
FNMA & FHLMC are not insurers they buy mortgages in the secondary market. FNMA & FHLMC can "own" your mortgage but your mortgage would be insured by a "Private Mortgage Insurance" (PMI) Company.
What has the author Mitchel H Kider written?
Mitchel H. Kider has written: 'Real estate and mortgage banking' -- subject(s): Mortgages, Law and legislation, Mortgage loans 'Secondary mortgage market guide' -- subject(s): Secondary mortgage market, Law and legislation
Why do you need secondary market?
In short: to provide liquidity For example, before the secondary market for mortgages a bank would hold the mortgage and gradually get their cash back over many years. With the secondary market they can sell the mortgage, getting back immediate cash for the value of those future cash flows. If I hold stock in a non-traded company I may have to hold the stock for a long time, hoping to benefit from dividends or finding someone to buy it from me. With a secondary market I could create a "sell" order and accept the highest bid in the market, receiving cash for my stock quickly.
What is one reason that the secondary mortgage market is important to the national economy?
facililtates the movement of captial from surplus regions to low captial regions
What has the author Susan M Wachter written?
Susan M. Wachter has written: 'The American mortgage system' -- subject(s): Subprime mortgage loans, Financial crises, Mortgage loans, Secondary mortgage market 'Latin American inflation' -- subject(s): Inflation (Finance), Money supply
