Which market consists of lenders like commercial banks and savings and loan associations where loans are originated?

The primary mortgage market is the correct answer because it refers to the market where loans are originated directly by lenders such as commercial banks and savings and loan associations. In this market, lenders provide funds directly to borrowers, enabling them to purchase real estate. This primary market is essential for establishing mortgage loans, thereby allowing individuals and businesses to finance their properties.

The primary mortgage market is characterized by the initial creation of loan agreements and involves transactions between borrowers and lenders. This is where the borrowing process begins, as banks assess the borrower's creditworthiness and the property value before granting a mortgage.

In contrast, the secondary mortgage market involves the buying and selling of existing mortgage loans. This market does not directly engage with borrowers; instead, it facilitates liquidity for lenders by allowing them to sell loans to investors. The other options, such as “point of beginning” and “power of attorney,” are legal concepts that do not pertain to mortgage origination or the markets involving lenders and borrowers.