Government National Mortgage Association

Commonly known as Ginnie Mae, this agency buys home loans from lenders, pools them with other loans and sells shares to investors. Unlike similar agencies Fannie Mae and Freddie Mac, Ginnie Mae only purchases loans backed by the federal government.

Related Terms:

1. How Raising Conforming Mortgage Limits Would Impact California Real Estate
2. Adjustable Rate Mortgage (ARM)
3. Conforming Loan
4. Federal Home Loan Mortgage Corporation (FHLMC)
5. Federal National Mortgage Association (FNMA)