Ginnie Mae

What is it? A mortgage-based investment, issued and guaranteed by the Government National Mortgage Association (GNMA, hence the name). As homeowners with government-insured mortgages make monthly payments, their lending institutions deduct a service charge and forward the remaining principal and interest to Ginnie Mae investment owners. GNMA guarantees timely payments to investors, even if homeowners fall behind in their mortgages.

Added By: Sam

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