A processor asks how to handle a file where a new MLO confuses Ginnie Mae with a lender that buys loans. Which response is most accurate?
Correct Answer
B) Recognize Ginnie Mae guarantees MBS, not direct loans
Lines 164-168; Ginnie Mae Funding Government Lending page. Ginnie Mae provides a securities guaranty role for government-backed mortgage collateral; it is not the loan originator or purchaser. Therefore, the correct response is "Recognize Ginnie Mae guarantees MBS, not direct loans".
Why This Is the Correct Answer
Lines 164-168; Ginnie Mae Funding Government Lending page. Ginnie Mae provides a securities guaranty role for government-backed mortgage collateral; it is not the loan originator or purchaser. Therefore, the correct response is "Recognize Ginnie Mae guarantees MBS, not direct loans".
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