The development of a secondary market for mortgage instruments has led to greater participation in mortgage lending by "long-distance" lenders.

Question

Quizplus · Accepted Answer

The development of a secondary market for mortgage instruments, such as the creation of mortgage-backed securities, has allowed lenders to sell their mortgages to investors. This process has made mortgage lending more attractive to a broader range of financial institutions, including those not located in the immediate area of the property, thus increasing participation by "long-distance" lenders.

The Development of a Secondary Market for Mortgage Instruments Has