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Ginnie Mae
The Government National Mortgage Association (GNMA, also known as Ginnie Mae) is a U.S. government-owned corporation within the Department of Housing and Urban Development (HUD).
Ginnie Mae provides guarantees on mortgage-backed securities (MBS) backed by federally insured or guaranteed loans, mainly loans issued by the Federal Housing Administration, Department of Veterans Affairs, Rural Housing Service, and Office of Public and Indian Housing. Ginnie Mae securities are the only MBS that are guaranteed by the United States government.
The GNMA was created by the United States Federal Government through a 1968 partition of the Federal National Mortgage Association. As with other government sponsored enterprises, Ginnie Mae uses a creative acronym of the company's full name, adopted officially for ease of identification.
Fed?s Ginnie MBS Purchases Decline
The Federal Reserve Bank of New York on Thursday announced another $19.87 billion in agency mortgage-backed security purchases for the week ending Feb...
Ginnie Mae Issuance Surpasses GSEs, Again
Total issuance at Ginnie Mae reached $27.1 billion in November, the government agency said earlier this week, bringing the 2008 total to $246 billion, and marking the second straight month that Ginnie Mae-issued MBS deals outpaced similar issuances at Fannie Mae (FNM: 0...
Ginnie Mae Makes Mortgage Market History in October
Mark October 2008 down in the annals of mortgage history: it represents the first time that fixed issuance volume from Ginnie Mae formally surpassed similar issuance volumes from either Fannie Mae (FNM: 0...
Ginnie?s Single-Family Delinquency Rate Drops to 3.48%
The Government National Mortgage Association, Ginnie Mae, guaranteed more than $38.6bn in mortgage-backed securities (MBS) in October...
Freddie Seeks Treasury Aid, Fannie Cuts Jobs; Ginnie Bucks Trend?
Government-sponsored entity Freddie Mac (FRE: 0.6402 -5.85%) on Friday filed a report with the Securities and Exchange Commission acknowledging the Federal Housing Finance Agency, acting as Freddie’s conservator, will soon request an additional $30 to $35 billion from the Treasury Department under the $100 billion senior preferred stock purchase agreement, through which the Treasury is [...
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