FinanceIntermediateDelaware Exam
Which federal agency sets the conforming loan limits for conventional mortgages?
AFHA
BFHFA (Federal Housing Finance Agency)Correct
CHUD
DThe Federal Reserve
Why FHFA (Federal Housing Finance Agency) Is Correct
Answer B: FHFA (Federal Housing Finance Agency)
The Federal Housing Finance Agency (FHFA) sets the conforming loan limits annually, which determine the maximum loan amounts that Fannie Mae and Freddie Mac can purchase.
Exam Tip: Finance
Finance questions often involve calculations. Master the T-bar method, understand the difference between conventional and government-backed loans, and know key ratios like LTV and DTI.
Key Finance Terms in This Question
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