GNMA-I(redirected from GNMA I Security)
A straightforward mortgage-backed, pass-through security issued by Ginnie Mae. All mortgages backing each GNMA-I were made by the same issuer and all have the same interest rate. All mortgages were issued within the three months immediately preceding the issue of the GNMA-I. Because these securities have no special features, they have more risk than other mortgage-backed securities such as collateralized mortgage obligations. GNMA-I is pronounced "Ginnie Mae One."