Government National Mortgage Association (redirected from Ginnie Mae (GNMA))

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.

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Government National Mortgage Association

See Ginnie Mae.

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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).