Ginnie Mae - Government National Mortgage Association - GNMA
- Ginnie Mae - Government National Mortgage Association - GNMA
- A U.S. government corporation within the U.S. Department of Housing and Urban Development (HUD). Ginnie May aims to:
1. Ensure liquidity for government-insured mortgages, including those insured by the Federal Housing Administration (FHA), the Veterans Administration (VA) and the Rural Housing Administration (RHA).
2. Bring investors' capital into the market for these types of loans, so that the issuers have the means to issue more.
Most of the mortgages securitized as Ginnie Mae mortgage-backed securities (MBSs) are those guaranteed by FHA, which are typically mortgages for first-time home buyers and low-income borrowers.
Ginnie Mae neither issues, sells or buys pass-through mortgage-backed securities, nor does it purchase mortgage loans. It simply guarantees (insures) the timely payment of principal and interest from approved issuers (such as mortgage bankers, savings and loans, and commercial banks) of qualifying loans, such as those issued by the FHA and RHA.
Unlike its cousins Freddie Mac, Fannie Mae and Sallie Mae, Ginnie Mae is not a publicly-traded company. An investor in a GNMA security will not know who the underlying issuer of the mortgages is, but merely that the security is guaranteed by GNMA, which is backed by the full faith and credit of the U.S government, just like U.S. Treasuries.
Investment dictionary.
Academic.
2012.
Look at other dictionaries:
Government National Mortgage Association — ( GNMA) A government owned corporation that is part of the U.S. Department of Housing and Urban Development. GNMA provides its guarantee, backed by the full faith and credit of the United States Government, to certain mortgage related securities … Financial and business terms
Government National Mortgage Association — The Government National Mortgage Association (GNMA, also known as Ginnie Mae) is a U.S. government owned corporation within the Department of Housing and Urban Development (HUD).Ginnie Mae provides guarantees on mortgage backed securities (MBS)… … Wikipedia
Government National Mortgage Association — “GINNIE MAE” (GNMA) Government corporation which guarantees payment on mortgage backed securities … American business jargon
Government National Mortgage Association — GNMA A US government agency that guarantees payment on securities backed by mortgages granted by such national organizations as the Federal Housing Finance Board (see Federal Home Loan Banks See also Ginnie Mae) … Big dictionary of business and management
Government National Mortgage Association — a U.S. government owned corporation whose chief function is to help finance government guaranteed home mortgages through the sale of bonds. Abbr.: GNMA Also called Ginnie Mae. * * * … Universalium
Government National Mortgage Association — a U.S. government owned corporation whose chief function is to help finance government guaranteed home mortgages through the sale of bonds. Abbr.: GNMA Also called Ginnie Mae … Useful english dictionary
Ginnie Mae — Logo. Ginnie Mae ist die in den USA populäre Bezeichnung bzw. ein Quasi Akronym für die Government National Mortgage Association (GNMA). Die Hauptaufgabe von Ginnie Mae ist die Bereitstellung von billigen Krediten für Hauskäufer und Hausbauer.… … Deutsch Wikipedia
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Ginnie Mae — See:Government National Mortgage Association. The New York Times Financial Glossary An informal name for the Government National Mortgage Association ( GNMA) or for securities issued by it. American Banker Glossary ( Government National Mortgage… … Financial and business terms
Ginnie Mae — 1) Colloquial US name for the Government National Mortgage Association (GNMA). 2) Colloquial US name for a mortgage supported bond issued by the Government National Mortgage Association. A Ginnie Mae pass through is a bond backed by mortgages… … Big dictionary of business and management
