Government National Mortgage Association - Wikipedia. Government National Mortgage Association. Founded. 19. 68. Area served. United States of America. Key people. Theodore W. Tozer(President)Nancy Corsiglia(Executive Vice President & Chief Operating Officer)John T. Daugherty(Senior Vice President of Securities Operations)Deborah A. Hernandez(Senior Leader of Transformation and Engagement)Tawanna Preston(Senior Vice President of Management Operations. Keith Donzell(Senior Vice President & Chief Financial Officer)Michael R. Drayne(Senior Vice President of Issuer & Portfolio Management)John F. Getchis(Senior Vice President of Capital Markets)Barbara Cooper- Jones(Senior Vice President of Enterprise Data & Technology Solutions)Gregory A. Keith(Senior Vice President of Enterprise Risk & Chief Risk Officer)Number of employees. Websitewww. ginniemae. The Government National Mortgage Association (GNMA), or Ginnie Mae, was established in the United States in 1. ![]() As a wholly owned government corporation within the Department of Housing and Urban Development (HUD), Ginnie Mae’s mission is to expand affordable housing finance in America by linking domestic and global capital to the nation's housing finance markets, providing market liquidity to federally sponsored mortgage lending programs. 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. History. One of the principal objectives of the FHA was to increase the flow of capital to the housing markets by insuring private lenders against the risk of mortgage default. FHA also was tasked with chartering and regulating a national mortgage association that would buy and sell FHA- insured mortgages. In 1. 93. 8, Congress amended the act to create the Federal National Mortgage Association, more commonly known as . It was not until 1. As part of the Housing and Urban Development Act of 1. Congress partitioned Fannie Mae into two entities: Fannie Mae, which was still originally restricted to purchasing FHA/VA mortgages (Fannie Mae was permitted to deal in conventional mortgages in 1. Ginnie Mae, formerly the Government National Mortgage Association, which originally only provided insurance for bonds issued by FHA/VA mortgages in special affordable housing programs. The government website where federal agencies post discretionary funding opportunities and grantees find and apply for them. Part of the Politics series: Basic forms of government; Power structure; Separation; Associated state; Dominion; Chiefdom; Federalism; Federation; Confederation. Government Turned Away Thousands of Jewish Refugees, Fearing That They Were Nazi Spies In a long tradition of “persecuting the refugee,” the State. Today, Ginnie Mae securities are the only mortgage- backed securities that are backed by the . These securities, or “pools” of mortgage loans, are used as collateral for the issuance of securities on Wall Street. MBS instruments are commonly referred to as . It does not purchase, sell, or issue securities. Accordingly, Ginnie Mae does not use derivatives to hedge and it does not carry long- term debt (or related outstanding securities liabilities) on its balance sheet. Instead, private lending institutions approved by Ginnie Mae originate eligible loans, pool them into securities, and issue the Ginnie Mae MBS instruments. These institutions include geographically diverse mortgage companies, commercial banks, and thrifts of all sizes, as well as state housing finance agencies. Role in the housing recovery. Even in uncertain times, investors are guaranteed payment of interest and principal, in full and on time. The benefits of this process are passed on to the lenders who can then make more mortgage loans at more affordable rates. Government- sponsored enterprises and government- owned enterprises. Fannie Mae and Freddie Mac, on the other hand, are . In September 2. 00. GSEs were placed under government conservatorship. Ginnie Mae neither originates nor purchases mortgage loans nor buys, sells or issues securities in the U. S. The credit risk on the mortgage collateral underlying its MB securities primarily resides with other insuring government agencies. Rather, Ginnie Mae is the guarantor of MBS issued by government- approved securities issuers who participate in Ginnie Mae’s program. See also. Retrieved 1. ![]() ![]() USA.gov can help you start your search for government information by topic and agency. Government, lifestyle, demographics, elected officials, education, social security, and other information from the State of Indiana. The Generally Accepted Government Auditing Standards, also known as the Yellow Book, provide a framework for conducting high quality audits with.
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