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Government National Mortgage Association

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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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
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Government National Mortgage Association

See Ginnie Mae.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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).

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

Government National Mortgage Association (GNMA)

Almost always referred to by its popular name—see Ginnie Mae.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.

Government National Mortgage Association (GNMA)

A federal agency that guarantees mortgage securities that are issued against pools of FHA and VA mortgages.

See Secondary Markets/Ginny Mae.

The Mortgage Encyclopedia. Copyright © 2004 by Jack Guttentag. Used with permission of The McGraw-Hill Companies, Inc.
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References in periodicals archive
[r.sup.c]: Callable long-term default-free rate, measured by the current-coupon bond-equivalent GNMA 30-year yield; biweekly; source: Board of Governors of the Federal Reserve.
Monetary policy actions and the incentive to invest: the "value of waiting" may overwhelm low interest rates
Murphy (1991) specified these percentages by attempting to best fit the model to the September 15, 1988 GNMA prices listed in the Wall Street Journal and the prepayment data reported in Salomon Brothers 1988 Mortgage Security Prepayment Rate Profile.
A comparative analysis of the price-process model of mortgage valuation
The correlations between returns and the unexpected components range from 31 percent for GNMA bond funds to 71 percent for growth stock funds.
Market returns and mutual fund flows
GNMA operated as a secondary market agency very much in the original intent of the New Deal system.
The new structure of the housing finance system
Because the after-tax yield of the AAA-rated insured bonds (7%) is greater than the after-tax yield of the GNMA bonds (6.46%), the tax-exempt bonds appear to be the better investment.
Evaluating investment options involving tax-exempt income
These were soon followed by contracts on GNMA pass-throughs and U.S.
Bond market innovations and financial intermediation
The minimum service fee is currently 0.25 percent for the GSEs and 0.19 percent for GNMA IIs.
Excess servicing: whose asset is it?
Securities guaranteed by the Government National Mortgage Association, called GNMA securities or Ginnie Mae securities, are about as safe as Treasury bonds and have shown higher yields.
High yields, on the house: if you're worried about rising interest rates, Ginnie Mae funds are safe
The Government National Mortgage Association (Ginnie Mae, or GNMA), a part of the Department of Housing and Urban Development, guarantees payments on MBSs backed by pools of Federal Housing Administration (FHA) and Veterans Administration (VA) mortgages.
The effect of mortgage refinancing on money demand and the monetary aggregates
The secondary market for mortgage loans has been one of the fastest-growing markets in the past two decades and many of these mortgages are securitized by the Federal National Mortgage Association (FNMA), the Government National Mortgage Association (GNMA) and the Federal Home Loan Mortgage Corporation (FHLMC).
Accounting for the sale of receivables under EITF Issue NO. 88-11
The certificates are limited obligations of the issuer secured by the revenues and assets pledged under the indenture that primarily consist of Ginnie Mae (GNMA) and a small amount of Fannie Mae (FNMA) mortgage backed securities (MBS).
Fitch Ratings maintains RWN on $56.6 million PRHFA certificates
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