Examlex
Identify the statement that is FALSE.
Seniority
The order of repayment in the event of a sale or bankruptcy, with higher seniority debts being repaid before those of lower seniority.
Mortgage Pass-through Agency
A financial entity that aggregates mortgage loans and creates pass-through securities representing interests in those loans.
Ginnie Mae
Ginnie Mae, or the Government National Mortgage Association, guarantees timely payment of principal and interest on mortgage-backed securities.
Sallie Mae
A corporation that originates, services, and collects student loans in the United States.
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