A branch supervisor asks Logan how to handle conforming loan limits. What should Logan recommend?
Correct Answer
D) Classify loans above the limit as nonconforming or jumbo
FHFA conforming loan limits define maximum principal amounts for Fannie Mae and Freddie Mac acquisition. The best answer is "Classify loans above the limit as nonconforming or jumbo".
Why This Is the Correct Answer
FHFA conforming loan limits define maximum principal amounts for Fannie Mae and Freddie Mac acquisition. The best answer is "Classify loans above the limit as nonconforming or jumbo".
More Mortgage Knowledge Questions
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