The Right Mortgage Loan is Right Here
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The Right Mortgage Loan is Right Here | |
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WHAT IS A SECONDARY MARKET?
The secondary market is made up of organizations that buy loans from banks and other lending institutions. The secondary market is primarily comprised of the Federal National Mortgage Association (FNMA) (or Fannie Mae); the Government National Mortgage Association (GNMA) (or Ginnie Mae); and The Federal Home Loan Mortgage Corporation (FHLMC) (or Freddie Mae).
These organizations buy and recycle loans from the original lending institution. A large percentage of loans end up in the secondary market. Loans that are not sold into the secondary market remain "in portfolio". MORTGAGE Q&As
What is a Loan that Originated in a Portfolio?
What is a Secondary Market? What Kind of Documents are Required for a Loan? What is a Credit Check and Who Performs Them? What Does a Lender Have to Disclosure to You by Law? What is PITI? Why Do I Need Private Mortgage Insurance (PMI)? Where Do I Get Private Mortgage Insurance (PMI)? What is an Interest-Only Loan? What are the Limits Allowed for FHA Loans? What is Selling Financing? What are the Primary Institutions of Money and Mortgages? What is the Advantage of Using Brokers for My Home Loans? |
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