Which organization is NOT typically considered part of the Secondary Mortgage Market?

Chase Bank is not typically considered part of the Secondary Mortgage Market because it primarily operates as a lender in the primary market. The primary market is where borrowers obtain mortgages directly from lenders. In contrast, the Secondary Mortgage Market involves organizations that buy and sell mortgage loans and mortgage-backed securities, allowing primary lenders to free up capital to make new loans.

Organizations like Fannie Mae, Freddie Mac, and Ginnie Mae are integral to the Secondary Mortgage Market. They provide liquidity to lenders by purchasing loans, which can then be packaged into mortgage-backed securities that are sold to investors. This process helps to stabilize and increase the availability of mortgage credit.

In summary, while Fannie Mae, Freddie Mac, and Ginnie Mae play key roles in facilitating the flow of mortgage funds and ensuring a robust secondary market, Chase Bank's primary function as a direct mortgage lender places it outside of this particular market segmentation.