Finance
The 'secondary mortgage market' in NC real estate involves:
ASecond mortgages on existing homes
BThe buying and selling of existing mortgage loans between lenders and investors✓ Correct
CMortgage lending by secondary (small) banks
DRefinancing of existing mortgages
Explanation
The secondary mortgage market is where existing mortgage loans are bought and sold between lenders, investors, and government-sponsored entities (Fannie Mae, Freddie Mac) after origination.
Related North Carolina Finance Questions
- Under the Community Reinvestment Act (CRA), banks are evaluated on their:
- NC's Predatory Lending Law (NC General Statutes Chapter 24) provides additional protections beyond federal law for:
- Under the NC Foreclosure Prevention Act, lenders must provide a Notice of Pre-Foreclosure Options to borrowers in default at least how many days before filing for foreclosure?
- Under RESPA, a kickback or unearned fee in connection with a federally related mortgage loan is:
- The NC Mortgage Lending Act regulates which entities in the mortgage industry?
- A NC lender's 'origination fee' on a mortgage loan represents:
- A NC 'conforming loan' meets the requirements to be purchased by Fannie Mae or Freddie Mac. These requirements include:
- A 'reverse mortgage' in NC allows homeowners who are typically 62 or older to:
Practice More North Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →