Final answer:
The FHAB is not a part of the secondary mortgage market, while the FNMA, GNMA, and FHLMC are.
Step-by-step explanation:
The FHAB is NOT a part of the secondary mortgage market. The other three options, The FNMA, The GNMA, and The FHLMC, are all institutions that are part of the secondary mortgage market. The institution you're asking about that is NOT a part of the secondary mortgage market is A. The FHA (Federal Housing Administration). The FHA is primarily concerned with insuring mortgages, not buying and selling them, which is what institutions in the secondary mortgage market are known for. The Fannie Mae (the FNMA), Ginnie Mae (the GNMA), and Freddie Mac (the FHLMC) are all part of the secondary mortgage market.