Government National Mortgage Association (Ginnie Mae)
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Government National Mortgage Association (Ginnie Mae)
A corporation that comes under the Department of Housing & Urban Development and is fully owned by the U.S. government. Ginnie Mae offers guarantees for the payment on time of principal plus interest for securities issued by a list of servicers who are approved. The securities are collateralized by VA-guaranteed, Farmers Home Administration (FmHA) guaranteed or FHA-issued mortgages.
