Finance
A South Dakota mortgage lender's 'portfolio loan' is one that:
AIs sold immediately to Fannie Mae after closing
BIs kept by the lender in their own loan portfolio instead of being sold in the secondary market✓ Correct
CHas terms dictated by federal guidelines
DIs only available to investors with multiple properties
Explanation
Portfolio loans are kept by the originating lender in their own portfolio and are not sold to secondary market investors. Lenders can offer more flexible terms on portfolio loans but retain the credit risk.
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