Government National Mortgage Association

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Related to GNMA: FNMA, Gmail

Government National Mortgage Association (Ginnie Mae)

A wholly owned U.S. government corporation within the Department of Housing & Urban Development. Ginnie Mae guarantees the timely payment of principal and interest on securities issued by approved servicers that are collateralized by FHA-issued, VA-guaranteed, or Farmers Home Administration (FmHA)-guaranteed mortgages.

Government National Mortgage Association

Also called GNMA or Ginne Mae. A United States government-owned enterprise that buys mortgages from banks and pools them, selling the pools as mortgage-backed securities. Ginnie Mae securities are backed by the full faith and credit of the United States and as such are consider risk-free investments. Ginnie Mae's activities are designed to help facilitate the provision of credit for home purchases among middle and low-income Americans.

Government National Mortgage Association

Government National Mortgage Association (Ginnie Mae).

The Government National Mortgage Association, known as Ginnie Mae, guarantees mortgage-backed securities issued by approved private institutions and marketed to investors through brokerage firms.

The agency's dual mission is to provide affordable mortgage funding while creating high-quality investment securities that offer safety, liquidity, and an attractive yield.

Ginnie Mae securities are backed by mortgages that are insured by either the Federal Housing Administration (FHA) or the Rural Housing Service (RHS), or guaranteed by the Department of Veterans Affairs (VA).

Ginnie Mae securities are sold in large denominations -- usually $25,000. But you can buy Ginnie Mae mutual funds, which allow you to invest more modest amounts.

Ginnie Mae is an agency of the US Department of Housing and Urban Development (HUD).

Government National Mortgage Association (GNMA)

Almost always referred to by its popular name—see Ginnie Mae.

Government National Mortgage Association (GNMA)

A federal agency that guarantees mortgage securities that are issued against pools of FHA and VA mortgages.

See Secondary Markets/Ginny Mae.

References in periodicals archive ?
In turn, the amount of unscheduled principal payments received by GNMA servicers during a month is assumed to equal the liquidations of GNMA-guaranteed MBSs minus 1 percent of the amount of GNMA-guaranteed MBSs outstanding at the end of the previous month:
Most of the activity (some 70 percent) was with FNMA, FHLMC, and GNMA.
Since late March, when GNMA began talking openly about the proposed mandatory ACH debit, MBA has been seeking to understand the ACH debit process in order to assess whether our members could be adversely affected by proposed change.
As shown in Figures 2 and 3, housing coupons include GNMA 7 percent to 8.
Therefore, private issues that are backed by GNMA securities will be assigned to the 20 percent risk-weight category as opposed to the 0 percent category appropriate to the underlying GNMA securities.
IPADS provides GNMA senior management with ready access to summary level information on each of its major programs: single-family, manufactured housing and multifamily housing.
MBA believes issuers should not suffer while GNMA develops its investor information system because there is little likelihood that our suggested changes would affect prepayment speeds, as PSA claims.
treasury, as the certificates will pay principal and interest regardless of the performance of the mortgage loans in the GNMA mortgage backed security.
5 million advanced by Bear Stearns bears interest at one-month LIBOR plus 10 basis points or approximately 570 basis points lower than the previous financing costs and is collateralized by approximately $25 million of GNMA securities that have a weighted average net coupon of approximately 7.
In summary, the analysis of a large group of servicers of GNMA portfolios shows that the generalizations imbedded in the financial theories that "bigger is better" and "diversification lowers risk" are not sufficient, by themselves, to serve as the basis for sound corporate and federal policies.
In this transaction, the bond trust indenture clearly instructs the trustee to give notice to FHLMC, FNMA or GNMA no later than the business day immediately following the non-receipt of any amount due under the 2012 MBS and directs them to make deposits to the revenue fund on a timely basis.
SAN JUAN, Puerto Rico, July 13 /PRNewswire-FirstCall/ -- R&G Financial Corporation, San Juan, Puerto Rico (the "Company"), a financial holding company with operations focused in Puerto Rico, announced today that its subsidiary R&G Mortgage Corporation ("R&G Mortgage") has received notice from the Government National Mortgage Association ("GNMA") declaring it in default under the guaranty agreements with GNMA as a result of the previously announced withdrawal of HUD-FHA Title II Approval of R&G Mortgage.