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Federal National Mortgage Association
(redirected from Ginnie Mae)

    Also found in: Dictionary/thesaurus, Legal, Financial, Acronyms, Encyclopedia, Wikipedia 0.02 sec.

Federal National Mortgage Association

US government-sponsored corporation, founded in 1938 to provide funds for the mortgage market. The FNMA does not offer mortgages directly but works with lenders to make sure funds are available for low- and middle-income families.

US government-sponsored corporation that provides funds for the mortgage market. The company aims to ensure that low-, moderate-, and middle-income families can afford to buy their own homes. The FNMA does not offer mortgages directly but works with lenders to make sure funds are available.

A crisis in the US system of housing finance, which erupted in 2007, led to emergency intervention by the US federal government in July 2008 to shore up the corporation's finances following a share price collapse, to prevent it defaulting.



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? Mentioned in ? References in periodicals archive
 
Ginnie Mae was created in 1968 as a wholly owned corporation within the Department of Housing and Urban Development (HUD).
ARM yourself with real estate's abbreviations by Polsinelli, Adelaide / Real Estate Weekly
Securities guaranteed by the Government National Mortgage Association, called GNMA securities or Ginnie Mae securities, are about as safe as Treasury bonds and have shown higher yields.
High yields, on the house: if you're worried about rising interest ... by Korn, Donald Jay / Black Enterprise
That's a pretty good environment for Ginnie Maes," he said.
Safer Havens by COLE, BENJAMIN MARK / Los Angeles Business Journal
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