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Are you familiar with the Fannie Mae and Freddie Mac Selling Guides?
Advice
If you are very confident with your knowledge in Fannie Mae and Freddie Mac, you can answer like this: "I am very familiar and comfortable with both of these selling guides, and have referred to them regularly throughout my career as a mortgage loan processor." If you are not confident with your knowledge in Fannie Mae and Freddie Mac, you can answer like this: "I have recently studied both of these selling guides and would consider myself at a beginner level of understanding at this point. I will certainly be dedicating my time further to better understand these selling guides."
Answer examples
"I am very familiar and comfortable with both of these selling guides, and have referred to them regularly throughout my career as a mortgage loan processor."

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User-Submitted Answers

Are you familiar with the Fannie Mae and Freddie Mac Selling Guides?
1.
Pretty well not an expert.
2.
I have heard of them but I do not have alot of background knowledge in their guildelines.
3.
I feel to very clearly in public side and what all are the advantages of both processing in real life to explain in public.
4.
Understand the lender guidelines and know they are priority in processing.
5.
I am absolutely familiar and spent many years training new loan officers on products and guidelines. I have done recent brushing up via the Internet and would like to gain more from your current employees.
6.
I processed sub prime loans. Therefore, I am not familiar with Fannie Mae or Freddie Mac Selling Guides.
7.
I know them pretty well. Loan's are created using the selling guides from start to finish.
8.
I am familiar with the Selling Guides and feel that no matter how well I know the guidelines the mortgage industry changes as fast as technology does, so to stay ahead I will always use my resources such as a synopoes to make sure that all loans are with in requirements.
9.
I am not but I catch on quickly.
10.
I feel like I have a lot to learn but I am currently in the process. Fannie Mae: owned by stockholders, typical loan Freddie mac: competitor of Fannie mae, also offers FHA and Conventional loans.
11.
Yes. I have certifications and training on all Fannie / Freddie Mac loans.
12.
I am somewhat familiar with it, but I love to learn more and I am a faster learner.
13.
I am aware there a certain guidelines lenders must stay within in order to be able to package and sell their loans to the secondary market.
14.
Need to review them again.
15.
I am familiar with Fannie Mae and Freddie Mac selling guides. The standard guidelines are pretty simple in helping a client obtain home ownership through these programs.
16.
Fannie Mae mostly buys mortgage loans from commercial banks, while Freddie Mac mostly buys them from smaller banks that are often called "thrift" banks.
17.
Yes I am but I review the automated Underwriting decision as a cross referece.
18.
I am very familiar with guidelines however I also realize it is important to verify and check guidelines frequently to ensure you are interpreting them correctly for the situation.
19.
I am not but on any job there is training and references to consult also supervisors to assist me to learn the process correctly.
20.
Yes I know Fannie Mae and Freddie Mac guidelines. I have held many positions in the mortgage industry that include MLO, underwriter as well as processor, which required me to stay abreast of all guidelines.