Definition for: GNMA
The Government National Mortgage Association (GNMA), also called "Ginnie Mae", is a U.S. government corporation established to back loans guaranteed by other government mortgage guaranty programs, such as FHA, VA, and RHA loans. Ginnie Mae does not buy or sell mortgages; rather it simply insures liquidity to these other entities by guaranteeing the timely payment of interest and principal on loans insured by them.
