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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...
Lend America Barred from FHA and Ginnie Mae
I wrote about Lend America earlier last month here on my Flipping Frenzy blog. The article concerned Lend America?s negative esteem among the halls of the Housing and Urban Development (HUD) for having, ??a default rate that is eight times the industry?s average...
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...
Taxpayers On The Hook For Ginnie Mae's Rampant Growth
" The Center for Public Integrity and The Washington Post collaborated nicely on a report detailing problems at Ginnie Mae...
GMAC at the Forefront of Ginnie Mae's Troubled Issuers
"In response to Taxpayers On The Hook For Ginnie Mae's Rampant Growth I received a nice Email from the Center for Public Integrity inviting me to take a look at Ginnie Mae's Troubled Issuers...
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