This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and CFP designation. He is passionate about opening up information to help everyone prepare better for financial certification exams. This episode covers content for the SIE Exam.

In this episode you will learn:

- The key differences between GNMA, FNMA, and FHLMC.

- Why GNMA securities are considered free from credit risk.

- How mortgage-backed securities pass payments from homeowners to investors.

- What prepayment risk is and why it occurs when interest rates fall.

- How to identify common traps and question types related to agency securities on the exam.

For more resources visit https://open-exam-prep.com/ and connect on LinkedIn at https://linkedin.com/in/chenran818