Which GSE is wholly owned by the federal government and does not operate under conservatorship?
Correct Answer
C) Ginnie Mae
Ginnie Mae is wholly owned by the federal government and operates within HUD. Fannie Mae and Freddie Mac are government-sponsored enterprises that have been under federal conservatorship since 2008.
Why This Is the Correct Answer
Ginnie Mae is wholly owned by the federal government and operates within HUD. Fannie Mae and Freddie Mac are government-sponsored enterprises that have been under federal conservatorship since 2008.
More Mortgage Knowledge Questions
A borrower is comparing two loan offers: Loan A has no points and 4.5% interest rate, Loan B has 2 points and 4.0% interest rate. The loan amount is $400,000. How much will the borrower pay upfront for the points on Loan B?
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A borrower asks about the difference between discount points and origination fees. What is the most accurate explanation?
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A purchase transaction closing is scheduled for the 29th of the month, but the seller requests to delay until the 3rd of the next month to avoid capital gains tax implications. The borrower's rate lock expires on the 30th. What is the most likely outcome?
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A conventional loan for $1,200,000 is originated with a 10% down payment, 740 credit score, and 35% DTI ratio in a high-cost area where the conforming limit is $1,149,825. The most accurate description is: