Affinity Tutoring Training Packet - Mortgage Markets

What is a mortgage?

• A written instrument using real property to secure repayment of a debt

• A type of insurance

• A government grant

• A savings account

Which of the following is part of the PRIMARY MARKET (Consumer Market)?

• Fannie Mae

• Mortgage Banker

• Freddie Mac

• Ginnie Mae

Fill in the blank: Mortgage Broker facilitates loan origination for financial institutions for a _____

• fee

• loan

• deposit

• guarantee

Which of the following is NOT a part of the PRIMARY MARKET?

• Commercial Banks

• Credit Unions

• Freddie Mac

• Mutual Savings Banks

Which government-sponsored enterprise (GSE) is the largest mortgage investor?

• Freddie Mac

• Fannie Mae

• Ginnie Mae

• The Federal Home Loan Bank System

True or False: Ginnie Mae purchases and sells loans.

• True

• False

Fill in the blank: Freddie Mac was created in _____

• 1970

• 1965

• 1985

• 1995

Which entity issues guarantees on bond pools of government-backed loans (FHA/VA/USDA)?

• Fannie Mae

• Freddie Mac

• Ginnie Mae

• Private Investors

What does CFPB stand for?

• Consumer Financial Protection Bureau

• Consumer Federal Protection Bureau

• Credit Financial Protection Bureau

• Credit Federal Protection Bureau

The Consumer Financial Protection Bureau was created by which acts?

• Dodd Frank Act & Consumer Financial Protection Act

• Federal Reserve Act & Truth in Lending Act

• Home Mortgage Disclosure Act & Fair Credit Reporting Act

• Equal Credit Opportunity Act & Mortgage Assistance Relief Services