Ginnie Mae

Quick Reference

1 Colloquial US name for the Government National Mortgage Association (GNMA).

2 Colloquial US name for a mortgage-supported bond issued by the Government National Mortgage Association. A Ginnie Mae pass-through is a bond backed by mortgages guaranteed by the GNMA, entitling the buyer to part of a pool of residential mortgages. These securities are called pass-throughs because the investor receives both the principal and interest from the bank or originating mortgage supplier, who retains no margin or profit.

Subjects: Financial Institutions and Services.

Reference entries