To. Fannie Mae participates in all of the following activities except C making loans directly to borrowers. O allowing loan originators to service the loans sold. O SAVE EXAM ANSWERS setting standards for purchasing conventional loans. O dealing in the secondary market. Time Remaining - 02:29:31 17. Fannie Mae replaced its free-market system auction with a(n) O incremental-rate system. O administered price system. O direct-issue system. O bidder-call system. 18. The secondary mortgage market provides all of the following benefits except O reducing discounts on resale of loans. distributing money nationally. O stabilizing the mortgage money markets. free