California Real Estate Practice Exam

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Master the California Real Estate Exam with our comprehensive practice quiz. Get expert tips, detailed content review, and insider strategies to pass on your first try.

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What agency buys residential conventional mortgage loans?

Federal National Mortgage Association
Federal Home Loan Bank
Federal Home Loan Mortgage Corporation
Government National Mortgage Association

The correct answer is: Federal Home Loan Mortgage Corporation

While each of the other options may be involved in the mortgage industry, they are not the primary agency responsible for purchasing residential conventional mortgage loans. A The Federal National Mortgage Association (Fannie Mae) primarily deals with purchasing and guaranteeing mortgage loans through its own network of lenders, but focuses mostly on low- and middle-income borrowers. B: The Federal Home Loan Bank provides support and financing to other lending institutions, including community banks and credit unions. D: The Government National Mortgage Association (Ginnie Mae) is responsible for guaranteeing government-backed loans, such as FHA and VA loans.