A Contract Has to Be in Writing to Be Enforceable

question 16

True/False

A contract has to be in writing to be enforceable by the courts.

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Definitions:

Mortgage-Backed Securities

These are bonds secured by home and other real estate loans. They are created by pooling mortgages and then selling interests in that pool to investors.

FNMA

The Federal National Mortgage Association, known as Fannie Mae, a government-sponsored enterprise that provides liquidity to the mortgage market.

FHLMC

The Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, is a public government-sponsored enterprise (GSE) that specializes in secondary mortgage markets by purchasing mortgages and securitizing them.

Financial Asset(s)

Financial assets refer to any assets that are cash, an ownership interest in an entity, or a contractual right to receive or deliver cash or another financial instrument.