The US secondary mortgage market differes from most of the world's mortgage markets due to: Multiple Choice the requirement for private mortgage insurance if the down payment is lower than 20% of the loan value. the use of 15 year and 30 year mortgages. O the use of both fixed-rate and adjustable rate mortgages. the placement of a lien on the mortgage property so that it cannot be sold until the loan is paid. the existence of the government sponsored entities and agencies (such as Fannie Mae, Freddie Mac, Ginnie Mae) that support the securitization of mortgages