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Federal National Mortgage Association
(redirected from Government National Mortgage Association)

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

Federal National Mortgage Association

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.

The FNMA was founded by US congress in 1938 and privatized in 1968. It is one of the largest corporations in the USA.
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Mortgage-backed securities fit into the "government" category because most of them are issued by federal agencies such as the Government National Mortgage Association ("Ginnie Mae"), the Federal National Mortgage Association ("Fannie Mae"), and the Federal Home Loan Mortgage Corp.
Safe bets by Korn, Donald Jay / Black Enterprise
The first securitization wave began in 1968 with the issue of Government National Mortgage Association (Ginnie Mae) pass-throughs, securities based on a pool of mortgages already guaranteed by the federal government, primarily through the Federal Housing Association.
POSTCARDS from the Home Front by Russell, Thomas / Best's Review
87-3, Accounting for Mortgage Servicing Fees and Rights, addresses determining normal servicing fee rates for transactions with federally sponsored secondary market makers of mortgage loans, such as the Government National Mortgage Association (Ginny Mae), the Federal National Mortgage Association (Fanny Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
Financial accounting: EITF update: normal servicing fee rates for SBA ... by Journal of Accountancy
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