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- GNMA - Ginnie Mae
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GNMA - Ginnie Mae Government National Mortgage Association Definition - Price Quote |
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Definition
of GNMA: The Government
National Mortgage Association
is a U.S. government owned corporatin withing the Department of Housing
and Urban Development (HUD). GNMA was created in 1968 by a
partition of Fannie Mae (Federal National Mortgage Association.
Unlike Fannie Mae, GNMA mortgage-backed securities
enjoy backing by the full faith and credit of the United States
Government.
Ginnie Mae provides guarantees on mortgage-backed securities (MBS) backed by federally insured or guaranteed loans, mainly loans issued by the Federal Housing Administration, Department of Veterans Affairs, Rural Housing Service, and Office of Public and Indian Housing. GNMA securities are the only MBS that are guaranteed by the United States government. |
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