finance

Ginnie Mae

Ginnie Mae, the Government National Mortgage Association, is a government corporation within the Department of Housing and Urban Development. It does not buy loans. Instead, it guarantees the timely payment of principal and interest on mortgage-backed securities made up of government-insured or guaranteed loans, such as FHA, VA, and USDA loans. This guarantee carries the full faith and credit of the U.S. government and attracts investors to the secondary market.