Finance
What is the primary purpose of Fannie Mae (FNMA) in Nevada real estate finance?
ATo directly make mortgage loans to Nevada homebuyers
BTo purchase qualified mortgages from lenders, providing liquidity to the mortgage market so lenders can make more loans✓ Correct
CTo insure FHA loans in Nevada
DTo set the maximum conforming loan limits for Nevada only
Explanation
Fannie Mae (Federal National Mortgage Association) operates in the secondary mortgage market, purchasing conforming mortgage loans from Nevada lenders and packaging them as mortgage-backed securities. This provides lenders with cash to make new loans, supporting homeownership.
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