Ginnie Mae

Also found in: Dictionary, Thesaurus, Legal, Acronyms, Encyclopedia, Wikipedia.
Related to Ginnie Mae: Fannie Mae, Ginnie Mae Funds

Ginnie Mae

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.

Ginnie Mae

A wholly owned government association that operates the mortgage-backed securities program designed to facilitate the flow of capital into the housing industry. Ginnie Mae-approved private institutions issue mortgage-backed securities with payments that are guaranteed even if borrowers or issuers default on their obligations. Ginnie Mae was created in 1968 when the Federal National Mortgage Association was partitioned into two parts. Formerly called Government National Mortgage Association. See also Ginnie Mae pass through, mobile home certificate.

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).

Ginnie Mae

A corporation formed in 1968 and placed under the control of the Department of Housing and Urban Development (HUD). Ginnie Mae makes no loans, nor does it buy or sell mortgages.Instead,it guarantees pools of federally insured or federally guaranteed loans.It is almost never called by its true name, which is the Government National Mortgage Association (GNMA) (

References in periodicals archive ?
National Association of Federal Credit Unions: "NAFCU and our members welcome the expanded offering between Ginnie Mae and the MPF Program," said Carrie Hunt, Senior Vice President of Government Affairs & General Counsel.
The January 2014 MOU acknowledged the success of the Ginnie Mae mortgage-backed securities program in providing liquidity for the housing finance system.
In general, borrowers whose loans are securitized by Ginnie Mae have lower incomes, are more likely to be from a minority group, and are more likely to reside in a low- or moderate-income or minority neighborhood than are borrowers whose loans are sold to, or securitized by, Fannie Mae or Freddie Mac.
The reporting standards for Ginnie Mae are very complex and if it is not done correctly, our standing with Ginnie Mae would be in jeopardy," continued Dover.
American Bankers Association: "ABA applauds this innovative collaboration between Ginnie Mae and the MPF Program," said Bob Davis, Executive Vice President for the American Bankers Association.
Ginnie Mae I single-family pools led the way with $28.
The RFS reporting feature allows our customers to easily remain in compliance with Ginnie Mae without having to incur additional expenses to develop customized interfaces," said Susan Graham, president of FICS.
9, 2013 /PRNewswire/ -- The Federal Home Loan Bank of Chicago (Bank) and the Government National Mortgage Association (Ginnie Mae) today announced that the Bank plans to issue securities guaranteed by Ginnie Mae and backed by mortgages originated by member financial institutions.
So, when you look at what's happening in the market--the market says we need you to step up, and Ginnie Mae has been able to step up.
Ginnie Mae announced today that it has no immediate plans to modify either its Ginnie Mae I or Ginnie Mae II securities.
The net proceeds from the 2006 series 4 bonds will be used to continue FHFC's single-family first-time homebuyer program by purchasing Ginnie Mae and Fannie Mae mortgage-backed securities (MBS).