Practical Law Glossary Item 4-384-8507 (Approx. 2 pages)
Glossary
Ginnie Mae
Common term for the Government National Mortgage Association. Ginnie Mae was created by the federal government in 1968. Ginnie Mae does not buy or sell loans or issue mortgage-backed securities (MBSs). It guarantees investors the timely payment of principal and interest on MBSs backed by certain federally insured or guaranteed loans. Ginnie Mae securities are the only MBSs guaranteed by the US government.