A light-second is the distance light travels in one second, or 7.5 times the distance around Earthâs equator. A light-year is the distance light travels in one year. How far is that? Multiply the number of seconds in one year by the number of miles or kilometers that light travels in one second, and there you have it: one light-year. Itâs about 5.88 trillion miles (9.5 trillion km).
They both have the same licensing requirements required by the State(s) in which they transact business, but the big difference is who they work for. An insurance agent is an insurance companyâs representative and the agentâs primary alliance is with the insurance carrier (company), not the insurance buyer.
Agency vs. non-agency These terms refer to the types of mortgage-backed securities the REITs can buy. Agency securities are mortgage bonds issued by Fannie Mae, Freddie Mac, or Ginnie Mae -- the government-supported agencies that guarantee mortgages. The mortgages represented by these securities are guaranteed by the issuing agency that the principal amount of the loan will be repaid.