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Redeemable at the Option of Freddie Mac, Commencing November 3, Form

Redeemable at the Option of Freddie Mac, Commencing November 3, Form

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[Music] so we're going to be talking about chapter 15 we're going to be talking about the primary market and the secondary market okay so here's what happens i'm going to start drawing a couple pictures okay and remember i told you a couple on the last class when we were doing chapter 13 that i want you to remember how a mortgage works all that kind of stuff so here we have the bank okay i draw this big building with money in it all this money okay now here's what happens bank gives the borrower happy little borrower here okay gives them money okay remember we said that we said they give them the loan okay then what happens is the borrower gives the bank okay the note or the promissory note which is basically the iou and the mortgage which is basically the uh pledge of real property so the home that they're buying over here their little house okay um basically saying hey if i don't pay you in ance with the note okay if i don't pay you in ance with the note you could take my home as rep

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