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Ginnie Mae, formerly the Government National Mortgage Association, which originally only provided insurance for bonds issued by FHA and VA mortgages in special affordable housing programs. [3] In 1970, Ginnie Mae became the first organization to create and guarantee MBS products and has continued to provide mortgage funds for homebuyers ever since.
A government-sponsored enterprise (GSE) is a type of financial services corporation created by the United States Congress.Their intended function is to enhance the flow of credit to targeted sectors of the economy, to make those segments of the capital market more efficient and transparent, and to reduce the risk to investors and other suppliers of capital.
Ginnie Mae, which remained a government organization, guarantees FHA-insured mortgage loans as well as Veterans Administration (VA) and Farmers Home Administration (FmHA) insured mortgages. As such, Ginnie Mae is the only home-loan agency explicitly backed by the full faith and credit of the United States government.
Ginnie Mae’s mortgage-backed securities are backed by the full faith and credit of the U.S. government, similar to Treasury bonds, meaning they are one of the safest investments anyone can make.
Ginnie Mae is a corporation owned by the U.S. government that guarantees timely payments on home loans that have been made under various federal housing programs and packaged into mortgage-backed ...
Ginnie Mae and Fannie Mae are both key players in the home mortgage business. The two organizations help make home loans available and affordable by increasing lenders' access to funds through the ...
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