The Government National Mortgage Association

question 38

Multiple Choice

The Government National Mortgage Association

• A)is a private corporation owned by shareholders.
• B)purchases pools of mortgages originated by FIs.
• C)provides timing insurance to investors in mortgage-backed securities.
• D)only approves conventional and FHA/VA insured mortgages.
• E)was the first agency to securitize residential mortgages.

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Definitions:

United Nations

An international organization formed in 1945 to promote peace, security, and cooperation among the world's nations through diplomacy and dialogue.

Performance Impossible

A legal concept where the fulfillment of contractual obligations becomes impossible due to unforeseeable circumstances.

Running Errands

Performing minor tasks or acquiring items outside of the home, often involving travel from one place to another.

Labouring Job

A labouring job involves physical work, often in sectors such as construction, manufacturing, or agriculture, typically requiring physical strength and endurance more than formal education.