Question

Fannie Mae and Freddie Mac are responsible for creating most of the commonly-used residential appraisal report forms.

Answer 1

Fannie Mae and Freddie Mac are responsible for creating most of the commonly-used residential appraisal report forms: TRUE

Who are Fannie Mae and Freddie Mac?

• Congress established Fannie Mae and Freddie Mac.
• They play a vital role in the nation's home finance system, supplying the mortgage market with liquidity, stability, and affordability.
• They provide liquidity (quick access to cash on acceptable conditions) to thousands of banks, savings and loans, and mortgage businesses that make home loans.
• Fannie Mae and Freddie Mac can also help stabilize mortgage markets and protect housing during times of extreme stress or volatility in the broader financial system.
• The Enterprises' assistance with mortgage loans to finance affordable housing lowers the cost of such borrowing.
• The majority of the regularly used home appraisal report types were developed by Fannie Mae and Freddie Mac.

As the description itself says, the majority of the regularly used home appraisal report types were developed by Fannie Mae and Freddie Mac.

Therefore the statement "Fannie Mae and Freddie Mac are responsible for creating most of the commonly-used residential appraisal report forms" is TRUE.

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Complete question:

Fannie Mae and Freddie Mac are responsible for creating most of the commonly-used residential appraisal report forms. True or False