Which is an example of a secondary mortgage market lender?

A secondary mortgage market lender is an entity that buys and sells existing mortgages and mortgage-backed securities rather than originating new loans directly to borrowers. Fannie Mae, as a government-sponsored enterprise, plays a crucial role in this market by purchasing mortgages from lenders, providing them with liquidity to continue lending practices. By aggregating individual loans into mortgage-backed securities, Fannie Mae improves the overall flow of capital in the housing market and helps facilitate homeownership across the country.

In contrast, the other entities listed, such as Bank of America, Wells Fargo, and Chase, primarily operate as primary mortgage lenders, originating loans directly to consumers. Their main focus is on providing financing to homebuyers rather than participating actively in the secondary market for existing loans.