Fannie Mae and Freddie Mac

question 118

Multiple Choice

Fannie Mae and Freddie Mac:

• A)are cousins in the financial world.
• B)are publicly traded,government sponsored organizations.
• C)are authorized to revoke loans made by banks and mortgage companies.
• D)make sure that lenders stay within certain limits when lending to prospective home buyers.

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Definitions:

Tasks, Duties, Responsibilities (TDRs)

Specific elements of a job, including the work one must accomplish, the obligations one must fulfill, and the areas for which one is accountable.

Non-observable Actions

Actions taken by employees or individuals that are not directly visible or measurable by managers or supervisors, often influencing assessments of performance or trust.

Job Extension

Enlarging jobs by combining several relatively simple jobs to form a job with a wider range of tasks.

Decision-making Authority

The power or right conferred upon an individual or group to make official decisions on behalf of an organization or entity.