Which entity is not included in the secondary mortgage market?

In the context of the secondary mortgage market, the Federal Deposit Insurance Corporation (FDIC) does not participate in the buying and selling of mortgage loans or mortgage-backed securities, which are the core activities of entities involved in this market. The secondary mortgage market primarily consists of government-sponsored entities such as Fannie Mae, Freddie Mac, and Ginnie Mae, which were created to enhance the availability of mortgage credit and provide liquidity to the mortgage market.

Fannie Mae and Freddie Mac are both involved in purchasing mortgages from lenders, providing them with funds to issue more loans. Ginnie Mae, on the other hand, guarantees securities backed by federally insured loans, making it easier for lenders to access capital. The FDIC, while an important federal agency responsible for preserving public confidence in the banking system and insuring deposits, does not engage in activities related to the secondary mortgage market or the trading of mortgages. As a result, it does not fit within the entities typically associated with this market.