Which of the following is NOT considered a primary mortgage market lender?

The correct answer, which identifies an option not considered a primary mortgage market lender, is associated with real estate agents. In the primary mortgage market, lenders are financial institutions that provide funds directly to homebuyers, allowing them to purchase property.

Commercial banks, pension funds, and credit unions are all critical players in this market as they have the resources and the regulatory framework to offer mortgage loans to consumers. These entities assess borrowers' creditworthiness, provide loan terms, and manage the funding necessary for home purchases.

Real estate agents, on the other hand, do not function as lenders. Their role is primarily related to facilitating the buying and selling of properties, advising clients on market conditions, and negotiating transactions. They do not provide financing directly to buyers, which is why this option correctly identifies the entity that does not belong in the list of primary mortgage market lenders.