Finance
Fannie Mae and Freddie Mac are known as:
AFederal Reserve lending arms
BGovernment-sponsored enterprises (GSEs) that purchase and guarantee mortgage loans✓ Correct
COklahoma-specific lending agencies
DDepartment of Housing and Urban Development subsidiaries
Explanation
Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation) are government-sponsored enterprises (GSEs) that buy conforming mortgages from lenders, pool them into mortgage-backed securities, and guarantee them.
Related Oklahoma Finance Questions
- Oklahoma lenders who offer 'no-closing-cost' mortgages typically recoup those costs by:
- What does it mean when a mortgage loan is 'amortized'?
- Under the Federal Reserve's regulation of credit, Regulation B (Equal Credit Opportunity Act) prohibits lenders from:
- The Oklahoma First Lien Position for a construction-to-permanent loan means:
- Which federal law requires lenders to provide borrowers with a Loan Estimate within 3 business days of receiving a loan application?
- An Oklahoma borrower with a 780 credit score, 20% down payment, and stable income would most likely qualify for:
- Under TRID (TILA-RESPA Integrated Disclosure) rules, a borrower must receive the Loan Estimate within:
- Under Oklahoma law, a lender who forecloses on a property but the sale proceeds are insufficient to pay off the loan may seek a deficiency judgment against the borrower. This means:
Practice More Oklahoma Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oklahoma Quiz →