Akademik

Ginnie Mae

See:Government National Mortgage Association. The New York Times Financial Glossary

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An informal name for the Government National Mortgage Association ( GNMA) or for securities issued by it. American Banker Glossary

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( Government National Mortgage Association)

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. Bloomberg Financial Dictionary

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Securities issued by the Government National Mortgage Association ( GNMA) of the US. Exchange Handbook Glossary

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Ginnie Mae Gin‧nie Mae [ˌdʒɪni ˈmeɪ] noun [singular]

1. ORGANIZATIONS FINANCE PROPERTY the familiar name for the Government National Mortgage Association, a US government organization that buys home loans from lenders, guarantee S them (= promises to repay them if the borrowers do not repay), and arranges for them to be sold and traded on financial markets as Securities. The money obtained is then used for more loans to home buyers:

• mortgage-backed securities, such as those issued by the Ginnie Mae.

2. Ginnie Maes FINANCE [plural] bonds sold by the Government National Mortgage Association:

• Ginnie Maes are backed by the full faith and credit of the US government.
— see also Fannie Mae, Freddie Mac

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   Government National Mortgage Association (GNMA). A wholly owned corporate unit of the US government whose chief function is to guarantee securities backed by pools of federally insured or guaranteed mortgages to aid secondary market liquidity. Its guarantees are known as GNMA pass-through certificates.

   ■ www.ginniemae.gov ■

   ► See also Securitization.

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Ginnie Mae UK US noun (ABBREVIATION GNMA)

► GOVERNMENT, FINANCE the Government National Mortgage Association: a US government organization that guarantees (= promises to pay back) loans of particular home buyers if they are not paid back, allowing the organization that lent the money to make more loans: »Ginnie Mae funds invest in federally guaranteed mortgages, whose principal and interest payments are assured by the government.

► [C, usually plural] a bond issued by the Government National Mortgage Association: »People with money in quasi-government bonds like Ginnie Maes or Freddie Macs have seen those bonds paid off prematurely as rates fell.

Financial and business terms. 2012.