Government National Mortgage Association (Ginnie Mae): The Government National Mortgage Association, known as Ginnie Mae, guarantees mortgage-backed securities issued by approved private institutions and marketed to investors through brokerage firms. The agency's dual mission is to provide affordable mortgage funding while creating high-quality investment securities that offer safety, liquidity, and an attractive yield. Ginnie Mae securities are backed by mortgages that are insured by either the Federal Housing Administration (FHA) or the Rural Housing Service (RHS), or guaranteed by the Department of Veterans Affairs (VA). Ginnie Mae securities are sold in large denominations — usually $25,000. But you can buy Ginnie Mae mutual funds, which allow you to invest more modest amounts. Ginnie Mae is an agency of the US Department of Housing and Urban Development (HUD).

 

Related Words

Government National Mortgage Association (Ginnie Mae): The Government National Mortgage Association, known as Ginnie Mae, guarantees mortgage-backed securities issued by approved private institutions and marketed to investors through brokerage f . . . View Full Definition

Government Bond: The term government bond is used to describe the debt securities issued by the federal government, such as US Treasury bills, notes, and bonds. They're also known as government obligations. . . . View Full Definition

National Forest: Originally, forest reserves, established by Presidential proclamation mostly between 1891 and 1909. Today, the boundaries of the 155 national forests cannot be modified without congressional . . . View Full Definition

National Football League (NFL): The largest professional American football league, with 32 teams.