The Government National Mortgage Association (Ginnie Mae) is a wholly-owned government corporation within the U.S. Department of Housing and Urban Development (HUD). Established in 1968, Ginnie Mae's mission is to link the United States housing market to the global capital markets, thereby increasing access to affordable financing for federal housing programs. Unlike other secondary mortgage market entities, Ginnie Mae does not buy, sell, or issue loans. Instead, it guarantees the timely payment of principal and interest on mortgage-backed securities backed by pools of federally insured or guaranteed loans, primarily those from the Federal Housing Administration (FHA), Department of Veterans Affairs (VA), and Department of Agriculture (USDA). This government guarantee makes these securities highly attractive to global investors, which in turn provides liquidity for U.S. housing finance.

Founded in

United States