conforming mortgage

conforming mortgage
A residential mortgage loan that meets all FNMA or FHLMC standards. Mortgages may conform to agency requirements regardless of whether they are sold or retained by the originator. Even though a conforming mortgage may not be sold to FNMA or FHLMC, its amount, repayment terms, and documentation meet the standards of those agencies, and the loan may be sold to them at any time during its life. American Banker Glossary

Financial and business terms. 2012.

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  • conforming loans — mortgage loans that meet the qualifications of Freddie Mac or Fannie Mae, which are bought from lenders and issued as pass through securities. Bloomberg Financial Dictionary …   Financial and business terms

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  • Prime Conforming — A sector of mortgage lending made up of loans to borrowers who are considered to be of a high credit quality, and where the dollar amount of the mortgage is equal to or less than the conforming loan limits set by the Office of Federal Housing… …   Investment dictionary

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