National lenders are big enough that they don’t hold on to all the loans they make. Instead, they sell some of the deals to secondary markets. The key secondary market players are Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation). They buy mortgages from the national lenders, so those lenders can now fund even more deals.
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Redemption - (no access) - [David_Lindahl]_Multi-Family_Millions_How_Anyone_(b-ok.org).pdf, p58
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