Government National Mortgage Association

The Government National Mortgage Association (GNMA), or Ginnie Mae, was established in the United States in 1968 to promote home ownership. As a wholly owned government corporation within the Department of Housing and Urban Development (HUD), Ginnie Mae’s mission is to expand affordable housing in the United States by channeling global capital into the nation’s housing finance markets. The Ginnie Mae guarantee allows mortgage lenders to obtain a better price for their loans in the capital markets. Lenders then can use the proceeds to make new mortgage loans available to consumers. This also helps to lower financing costs and create opportunities for sustainable, affordable housing for families seeking home ownership.

Read more about Government National Mortgage Association:  History, Business, Role in The Housing Recovery, Government-sponsored Enterprises and Government-owned Enterprises

Famous quotes containing the words government, national, mortgage and/or association:

    “It’s no go the picture palace, it’s no go the stadium,
    It’s no go the country cot with a pot of pink geraniums.
    It’s no go the Government grants, it’s no go the elections,
    Sit on your arse for fifty years and hang your hat on a pension.”
    —Louis MacNeice (1907–1963)

    “It appears to be a matter of national pride that the President is to have more mud, and blacker mud, and filthier mud in front of his door than any other man can afford.”
    —Jane Grey Swisshelm (1815–1884)

    “We are playing with fire when we skip the years of three, four, and five to hurry children into being age six.... Every child has a right to his fifth year of life, his fourth year, his third year. He has a right to live each year with joy and self-fulfillment. No one should ever claim the power to make a child mortgage his today for the sake of tomorrow.”
    —James L. Hymes, Jr. (20th century)

    “An association of men who will not quarrel with one another is a thing which has never yet existed, from the greatest confederacy of nations down to a town meeting or a vestry.”
    —Thomas Jefferson (1743–1826)