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Unformatted text preview: actual limit to its mortgage amount A non-conforming mortgage is just the opposite, it does not follow the guidelines set by Freddie Mac and Fannie Mae therefore having a dollar amount over the purchasing limit. 7. One type of mortgage insurance is PMI, which is private mortgage insurance, and a second type is called FHA which is run by the government 8. They can do one of three things, keep it, sell it, or use it as collateral. 9. Mortgage pass through security is a security consisting of a pool of residential mortgage loans 10. The disadvantage of a third party guarantee is that all the mortgages within the pool will have to pay out an additional fee on their perspective mortgages....
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This note was uploaded on 01/08/2012 for the course AEM 4230 taught by Professor Bogan,v. during the Fall '08 term at Cornell University (Engineering School).
- Fall '08