Finance
The secondary mortgage market in Utah involves:
ASecond mortgages and HELOCs only
BThe buying and selling of existing mortgage loans between lenders and investors like Fannie Mae and Freddie Mac✓ Correct
CLoans made by private individuals to other individuals
DLoans for second homes and vacation properties only
Explanation
The secondary mortgage market is where already-originated loans are bought and sold as investment securities. Fannie Mae, Freddie Mac, and Ginnie Mae are major participants. This provides lenders with liquidity to make new loans.
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