PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM GLOSSARY
The primary mortgage market is where borrowers obtain new mortgage loans directly from originators such as banks, credit unions, mortgage companies, and other lenders.
Financing
Mortgage markets
Define, distinguish, apply, retrieve
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PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEBuild the complete exam definition
Learn the rule, separate it from the nearest distractor, then apply it to a Georgia fact pattern.
What does Primary mortgage market mean?
The primary mortgage market is where borrowers obtain new mortgage loans directly from originators such as banks, credit unions, mortgage companies, and other lenders.
How do you separate the nearest exam answer?
The primary market creates loans with borrowers. The secondary market buys, sells, pools, or securitizes existing mortgage loans after origination.
What changes or stays the same in Georgia?
A Georgia homebuyer applying for a new loan deals in the primary market even if the lender expects to sell the loan immediately after closing.
A credit union underwrites an applicant, funds the purchase loan, and receives the signed note and security deed.
Classify the transaction taking place now, not the institution's later plan for the loan.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDERetrieve the rule under exam conditions
Answer before reading the explanation. Then explain why every distractor belongs to a different term.
A Savannah buyer gets a new purchase loan from a mortgage company that plans to sell the loan to an investor the week after closing. In which market did the buyer obtain the loan?
- A
The primary mortgage market
- B
The secondary market, since the loan will be sold
- C
The secondary market, since an investor funds it
- D
Neither market until the loan is sold
Making a new loan between a borrower and a lender happens in the primary mortgage market. The lender's later sale of the loan is a separate secondary market transaction and does not change how the buyer got the loan. Classify the transaction taking place now, not the lender's plans.
Mark each box only when you can perform the skill without looking.
I can define the term in one precise sentence.
I can separate it from the closest look-alike.
I can explain the Georgia rule or confirm that the national rule applies.
I can answer the practice check and explain every option.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEConnect the term to the wider exam
Use these relationships to move from isolated recall to a connected exam model.
Financing complete lesson
https://www.passgeorgiarealestate.com/study-guide/financing/basic-loan-concepts
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