Ginnie Mae

[ jin-ee ]

noun

, Finance.

1. Government National Mortgage Association.
2. a bond or certificate sold by the Government National Mortgage Association.

Word History and Origins

Origin of Ginnie Mae¹

1970–75; formed from the initials GNMA; Fannie Mae

Example Sentences

“There could be, in the long run, some reduction in home prices,” said Ted Tozer, a fellow with the Urban Institute think tank who previously served as president of government-owned mortgage corporation Ginnie Mae.

From Los Angeles Times

Another entity, Ginnie Mae, ensures payment to investors that bought mortgage bonds holding loans made through other government programs, including the Federal Housing Administration, which lends largely to first-time home buyers; the Department of Veterans Affairs; and others.

From New York Times

Homebuyers who put less than 20% down pay, on average, 0.58% to 1.86% of the original loan amount per year for PMI, according to Genworth Mortgage Insurance, Ginnie Mae and the Urban Institute.

From Seattle Times

Senate included a provision that prohibited the Federal Housing Administration, the Department of Housing and Urban Development and Ginnie Mae from refinancing, or replacing, any mortgages seized through eminent domain.

From New York Times

This includes individual debt securities issued by corporations; bonds sold by state and local governments and other bonds issued in the municipal securities market; and bonds issued by government-sponsored entities such as Fannie Mae, Freddie Mac or Ginnie Mae.

From Reuters