Question 13 (2.5 points)

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The creation of mortgage-back securities (MBS) makes traditional mortgages more liquid because:

Question 13 options:

	Investors can trade MBS in small quantities at any time in the securities market, similar to trading stocks
	MBS investors can request borrowers to prepay and receive their investment capital back at any time
	MBS investors will collect payments from several mortgages/borrowers
	All of the above

Question 14 (2.5 points)

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Fannie Mae and Freddie Mac:

Question 14 options:

	are sponsored by the U.S. government
	guarantee agency MBS
	purchase mortgages and issue agency MBS
	All of the above

Question 15 (2.5 points)

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Who owns the underlying mortgages of a Mortgage Pass-Through?

Question 15 options:

	MBS issuer
	Mortgage originator
	MBS investors
	Fannie Mae, Freddie Mac, or Ginnie Mae