the role of primary mortgage market in development a secondary report excerpts more bankers fail as result their inability to manage risks marketing than for any other reason united states is still dominated by gses figure 7 namely fannie mae formerly federal national association or fnma and freddie mac home loan corporation fhlmc guarantee backed securities seller servicer acts custodian holding loans collateral chartered government are privately owned institutions that have been granted preferences return limiting activities investment fha insured va guaranteed pooled sold ginnie gnma mortgages private conduits use them recent years which nonconforming ineligible purchase has rising importance related issuer 2 282 billion 1997
