Business and Personal Finance Dictionary

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• GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA)
  
  Known as Ginnie Mae, this is an agency of the US Department of Housing and Urban Development. The agency guarantees, backed by the full faith and credit of the US government, mortgage-backed securities issued by private institutions. The agency's dual mission is to provide affordable mortgage funding for all Americans while creating high-quality investment securities that offer safety, liquidity, and an attractive yield. Since Ginnie Maes are mortgage securities, they pay interest as well as return of principal with each payment. Ginnie Mae securities are sold in large denominations-usually $25,000. But you can buy Ginnie Mae mutual funds, which allow you to invest more modest amounts.
  
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