TeachMeFinance.com - explain Ginnie Mae
Mae --Government National Mortgage Association (GNMA); a government-owned
corporation overseen by the U.S. Department of Housing and Urban
Development, Ginnie Mae pools FHA-insured and VA-guaranteed loans
to back securities for private investment; as With Fannie Mae and
Freddie Mac, the investment income provides funding that may then
be lent to eligible borrowers by lenders.
Ginnie Mae -- popular name for Government National Mortgage Association.
Government National Mortgage Association (GNMA) -- a government corporation, part of the Department of Housing and Urban Development, that subsidizes the purchase of FHA and VA mortgages. GNMA also guarantees securities issued by private institutions and backed by pools of mortgages. Popularly known as Ginnie Mae.
About the author
Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.