Finance
A West Virginia buyer using a conventional conforming loan must meet standards set by:
AThe WVREC
BFannie Mae (FNMA) and Freddie Mac (FHLMC) guidelines✓ Correct
CThe WV Division of Banking only
DThe U.S. Department of Housing and Urban Development (HUD)
Explanation
Conventional conforming loans must meet the underwriting guidelines of Fannie Mae (FNMA) and Freddie Mac (FHLMC) to be purchased on the secondary market. These guidelines govern credit scores, DTI ratios, loan limits, and other requirements.
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