Finance
The 'secondary mortgage market' in Alaska and nationwide primarily consists of:
ASecond mortgage loans made by banks
BInstitutions such as Fannie Mae and Freddie Mac that purchase mortgages from originating lenders✓ Correct
CSubprime lenders serving borrowers who cannot qualify for conventional loans
DCredit unions that offer second-chance mortgages
Explanation
The secondary mortgage market consists of investors (primarily Fannie Mae, Freddie Mac, and Ginnie Mae) that purchase mortgage loans from originating lenders. This replenishes lenders' capital so they can make new loans.
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