DQ 1Agency Debt (graded)How do agencies such as Fannie Mae and Freddie Mac allow individual mortgage holders to collectively benefit from the agenciesâ€™ access to the capital markets? Does this access result in lower mortgage rates than would otherwise be the case? Are consumers able to have greater access to mortgage opportunities? Why or why not?DQ 2Mortgages and Mortgage-Backed Securities (graded)Who are the typical holders of mortgages and mortgage-backed securities? What characteristics of mortgage-backed securities make them attractive to these entities? What entities are involved in the origination of mortgages and the exchange of mortgage-backed securities, and how can industry conditions impact these markets?