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Government National Mortgage Association

   Also found in: Legal, Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.03 sec.
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
See Ginnie Mae.
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Mortgage-backed securities fit into the "government" category because most of them are issued by federal agencies such as the Government National Mortgage Association ("Ginnie Mae"), the Federal National Mortgage Association ("Fannie Mae"), and the Federal Home Loan Mortgage Corp.
Safe bets by Korn, Donald Jay / Black Enterprise
The first securitization wave began in 1968 with the issue of Government National Mortgage Association (Ginnie Mae) pass-throughs, securities based on a pool of mortgages already guaranteed by the federal government, primarily through the Federal Housing Association.
POSTCARDS from the Home Front by Russell, Thomas / Best's Review
87-3, Accounting for Mortgage Servicing Fees and Rights, addresses determining normal servicing fee rates for transactions with federally sponsored secondary market makers of mortgage loans, such as the Government National Mortgage Association (Ginny Mae), the Federal National Mortgage Association (Fanny Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
Financial accounting: EITF update: normal servicing fee rates for SBA ... by Journal of Accountancy
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