Government National Mortgage Association

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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 this case, the after-tax yield of the GNMA bonds exceeds the after-tax yield of the tax-exempt bonds and, in terms of yield, is the better investment alternative.
GNMA __ un = GNMA __ liq - norm __ liq*GNMA __ stk __ lag.
Not surprisingly, given GNMA's focus on government-backed loans, the HMDA data indicate that GNMA is supporting home purchase loans made to low- or moderate-income, and to a lesser extent minority households, relatively more often than are other secondary market institutions.
Accordingly, mortgage-backed, pass-through securities guaranteed by GNMA will have a risk weight of 0 percent.
MBA is very pleased that GNMA made the decision to apply the ACH debit transfer prospectively so that outstanding guaranty agreements would not be amended.
Each of the deals, excluding GNMA Collateralized Mortgage Revenue Bonds (Park Gate Apartments Project) Series 2005, is invested in an A1/P-1-rated Guaranteed Investment Contract (GIC) and therefore is assured a fixed rate of return on invested cash in an unusually low interest rate environment, the agency said.
The sharp increase in the FHA loan limit, coupled with the closing cost financing modifications, have the potential to boost FHA originations markedly and expand the issuance of GNMA securities this year.
The GNMA mortgage-backed security (MBS) program is responsible for administering and monitoring more than $400 billion of mortgage-backed securities, covering more than 7 million federally insured and guaranteed loans.
Unfortunately, GNMA has not demonstrated a similar degree of flexibility with regard to the adoption of a meaningful acknowledgement agreement, one in which GNMA would recognize a lender's security interest in GNMA servicing rights after an issuer's GNMA default.
iShares Barclays GNMA Bond Fund (NASDAQ: GNMA) - The first ETF to offer a flexible and cost-efficient way to invest in a diversified portfolio of fixed-rate, mortgage-backed securities issued by the Government National Mortgage Association (GNMA).
This year, GNMA is working with industry representatives to produce an acceptable acknowledgment agreement.