Which entity is NOT known for purchasing loans on the secondary mortgage market?

The Federal Deposit Insurance Corporation (FDIC) is primarily focused on protecting depositors by insuring bank deposits and promoting public confidence in the financial system. It is not engaged in purchasing loans on the secondary mortgage market.

In contrast, the other entities mentioned, like FNMA (Fannie Mae), FHLMC (Freddie Mac), and GNMA (Ginnie Mae), are all key players in the secondary mortgage market. Fannie Mae and Freddie Mac are government-sponsored enterprises that buy mortgages from lenders to promote liquidity in the mortgage market, thereby making home financing more accessible. Ginnie Mae, on the other hand, guarantees mortgage-backed securities backed by federally insured or guaranteed loans, such as those from FHA and VA. This operational focus on the secondary mortgage market makes these three entities essential to the functioning of mortgage finance, whereas the FDIC primarily serves a different purpose.