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Is there a secondary mortgage market for Section 203(k) mortgage loans?

April 26, 2017market mortgage mortgage loans Secondary section

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Is there a secondary mortgage market for Section 203(k) mortgage loans?

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Yes. The Government National Mortgage Association (GNMA) permits the Section 203(k) mortgage to be placed in both GNMA I and II pools with Section 203(b) mortgages. GNMA accepts the 203(k) mortgage once it has been endorsed by HUD. The Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) will also purchase a Section 203(k) first mortgage.