The Government National Mortgage Association (Ginnie Mae) is a wholly-owned government corporation operating 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 expanding affordable housing finance. It does this by guaranteeing investors the timely payment of principal and interest on mortgage-backed securities (MBS) that are backed by pools of government-insured or guaranteed loans, primarily from the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), and the Department of Agriculture's Rural Housing Service (RHS). This government guarantee makes the securities highly attractive and liquid, which in turn helps ensure lenders have a stable source of capital to make new mortgage loans.

Founded in

United States