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c. Government Mortgagee (06/20/2024)
i. Definitions
(A) Governmental Institutions
Governmental Institutions refer to federal, state, and municipal governmental agencies and Federal Reserve Banks.
(B) Government-Sponsored Enterprises
Government-Sponsored Enterprises (GSE) refer to Federal Home Loan Banks, the Federal Home Loan Mortgage Corporation (FHLMC, or Freddie Mac), and the Federal National Mortgage Association (FNMA, or Fannie Mae).
ii. Standard
A Government Mortgagee must meet the general approval requirements set forth below.
iii. Activities Authorized
Governmental Institutions may originate, underwrite, close, endorse, service, purchase, hold, or sell FHA-insured Mortgages.
GSEs may purchase, service, hold, or sell FHA-insured Mortgages.