Chapter 26 TB.pdf - Chapter 26 Loan sales test bank...

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Chapter 26 Loan sales test bank questions 1. The three government agencies that sponsor the creation of mortgage-backed, pass through securities are: GNMA, FNMA, and FDIC. FALSE 2. On September 7, 2008, FNMA and FHLMC were placed under conservatorship and both are controlled by a federal government agency. TRUE 3. FNMA securitizes conventional mortgage loans as well as FHA/VA insured loans. TRUE 4. Individual mortgage loans in a pool sponsored by FNMA or FHLMC must be non- assumable of the property is sold. TRUE 5. GNMA is more active in the market for mortgage pass-through securities than either FNMA or FHLMC. FALSE 6. Unlike GNMA, FNMA will securitize conventional mortgages issued by depository institutions. TRUE 7. The securities that form a GNMA pass-through are U.S. Treasury bonds, bills, and notes. FALSE
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