California · Chapter 26 of 59
Sources of Financing
Banks, credit unions, mortgage bankers, mortgage brokers. Fannie Mae, Freddie Mac, and Ginnie Mae.
15-minute read · Built for the DRE Salesperson Exam
primary marketsecondary marketFannie MaeFreddie MacGinnie Maemortgage bankermortgage broker
Primary Mortgage Market
The primary market is where loans are originated - where borrowers get their loans. Key players: (1) Banks and credit unions - deposit-taking institutions that lend from their own funds. (2) Mortgage bankers - lend their own money but typically sell loans to the secondary market. (3) Mortgage brokers - match borrowers with lenders but do not fund loans themselves. (4) Savings and loans - historically focused on home lending.
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