Otherwise known as the (GNMA) Government National Mortgage Association that was created in 1968, Ginnie Mae was created as a fully owned corporation within the (HUD) Department of Housing and Urban Development. Instead of loaning money for mortgages, Ginnie Mae operates in the secondary mortgage market by buying loans and selling mortgage-backed securities to investors. This increases the availability of mortgage credit.
Ginnie Mae
Otherwise known as the (GNMA) Government National Mortgage Association that was created in 1968, Ginnie Mae was created as a fully owned corporation within the (HUD) Department of Housing and Urban Development. Instead of loaning money for mortgages, Ginnie Mae operates in the secondary mortgage market by buying loans and selling mortgage-backed securities to investors. This increases the availability of mortgage credit.
