Ginnie Mae pass-through

Ginnie Mae pass-through

A security guaranteed by the Government National Mortgage Association that is backed by a collection of mortgages, in which the investor receives the interest and principal payments of participating homeowners.

Ginnie Mae Pass-Through

Mortgage-backed pass-through securities with principals and interest guaranteed by Ginnie Mae. A pass-through security is backed by assets or debt; in a Ginnie Mae pass-through security, Ginnie Mae reduces the risk of default to the pass-through holder by guaranteeing payment. It is the most common agency pass-through security.
References in periodicals archive ?
Of the remaining one-third of the portfolio, 36 of the properties are insured under the FHA risk-sharing program, six are insured by FHA, one is secured by a Ginnie Mae pass-through certificate, and one is secured by a Fannie Mae pass-through certificate.
8 million mortgage financed in the early 1990s that is secured by a Ginnie Mae pass-through certificate under which timely payment of principal and interest is guaranteed.