Ginnie Mae, commonly referred to as the Government National Mortgage Association (GNMA), is a government corporation within the U.S. Department of Housing and Urban Development (HUD). It guarantees the timely payment of principal and interest on mortgage-backed securities (MBS) issued by approved lenders.
A Ginnie Mae pass-through security is backed by a pool of mortgages and guaranteed by the Government National Mortgage Association (GNMA), passing through to investors the interest and principal payments of homeowners.
The Government National Mortgage Association (GNMA), commonly known as Ginnie Mae, is a government organization that facilitates housing finance by guaranteeing mortgage-backed securities and supporting low-income housing through loan write-downs.
