This module introduces the Secondary Market. The prevalence of the use of the secondary mortgage market began in the 1970s and has become an integral component of the majority of single family lending. Research and answer the following questions. Be thorough! There are many pluses and minuses for the other participants (originators/lenders, financial institutions, and investors). For questions 1 & 2 below keep you perspective for this assignment focused on the borrower. 1. What are the ultimate benefits to borrowers from the existence of the secondary market for new loans (mostly through the "agencies, FHLMC, FNMA and GNMA)? 2. Are there any negatives for the borrower? 3. Now what are the benefits and risks to lenders