Government National Mortgage Association

(redirected from Ginnie Mae (GNMA))
Also found in: Legal, Encyclopedia.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Government National Mortgage Association

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.