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synergy national bank issued a conventional loan that is eligible for purchase by fannie mae. when fannie mae purchases the loan, what will synergy national bank receive in return?

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Synergy national bank issued a conventional loan that is eligible for purchase by Fannie Mae. When Fannie Mae purchase's the loan, what will Synergy national bank receive in return collect the fee's

Does Fannie Mae have anything to do with a conventional loan?

A conventional mortgage loan is a "conforming" loan, which basically means it complies with Fannie Mae or Freddie Mac's standards. Mortgages are bought from lenders by government-sponsored companies Fannie Mae and Freddie Mac, who then sell them to investors.

To whom are loans sold to Fannie Mae?

Fannie Mae is a GSE that buys mortgage loans from smaller banks or credit unions and backs or guarantees them on the mortgage market for borrowers with low to middle incomes.

Where can I locate any credits offered by the seller under the loan estimate?

A: The Loan Estimate discloses seller credits as follows: The Calculating Cash to Close table includes information on general seller credits.

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