Ginnie Mae


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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) (www.ginniemae.gov).

References in periodicals archive ?
As far as what I still want to accomplish, I want to make sure that the infrastructure is solid, and that Ginnie Mae's model can continue to be as successful as it has proven to be.
Background on Nonbanks, Government-Sponsored Enterprises, and Ginnie Mae
Last week, Ginnie Mae announced it has notified a small group of lenders who allegedly have been abusing veterans on refinancings that they face potential exclusion from Ginnie's principal bond program if they don't stop what they've been doing.
* The GNMA, or Ginnie Mae, helps make affordable housing a reality for millions of low- and moderate-income U.S.
Once the loans were repurchased at prices applicable to delinquent loans, FMC was able to resell them into new Ginnie Mae RMBS pools at higher prices applicable to current loans for an immediate, nearly risk-free profit.
The meetings are a result of the success of the Ginnie Mae mortgage-backed securities program, which has a nearly $1.7 trillion dollar outstanding portfolio and the corporation's consistent financial stability, generating more than $21 billion in total net income returned to the U.S.
Ginnie Mae investments work like this: When you take out a mortgage to buy a home, your loan obligation and those of other borrowers are combined to form a larger pool that is then sold to investors.
Under the bill Ginnie Mae would be able to guarantee securities backed by conventional mortgages that carry primary, extended and supplemental mortgage insurance.
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.
A third nonprofit government institution, the Government National Mortgage Association (Ginnie Mae), is active in the secondary mortgage market; it was created by the Congress to provide liquidity solely for federal housing initiatives.
A few years ago, some other investors I know blindly snapped up Ginnie Mae bonds with a 15 percent coupon.
Here's how ARMs work: Banks make adjustable rate mortgage loans and typically sell them to government agencies such as the Government National Mortgage Association (GNMA or Ginnie Mae), the Federal National Mortgage Association (FNMA or Fannie Mae), or the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac).