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