With the Mortgage Bankers Association set to host its National Secondary Market Conference and Expo on Sunday, now's a perfect time to brush up on some key secondary mortgage market terminology.
The secondary market may not be the simplest of the mortgage industry segments, and the common use of abbreviations throughout it doesn't make things any easier.
While an abbreviation like MBS for mortgage-backed securities and PMI for private mortgage insurance might be simple enough, other shorthand terms for industry phrases may be less obvious to guess (kind of like how we don't know what's going to happen with government-sponsored enterprise reform).
So take a stab at figuring out these abbreviations and see how you measure up by taking our quiz.
Be sure to reference the category and clue for each abbreviation before flipping to the next slide to reveal the answer. Good luck!
The MBA's Secondary Conference will begin on May 20 and conclude on May 23. It will be held at the New York Marriott Marquis in Times Square.
The conference will host sessions on the secondary market concerning mortgage servicing rights, GSE reform and commercial mortgage-backed securities, among other industry hot topics. Attendees will also have opportunities for networking.
Want more? Check out these other mortgage abbreviation quizzes:
Taylor, Bean & Whitaker's former chairman and CEO, Lee Farkas, led a $2.9 billion mortgage fraud scheme during the housing crash but was released early from prison due to susceptibility of COVID-19 transmission.