The Government National Mortgage Association is a federal corporation that guarantees principal and interest payments on mortgage-backed securities issued by approved lenders.
The association is commonly known as Ginnie Mae or GNMA and is part of the US Department of Housing and Urban Development.
Its goal is to guarantee affordable home loans for underserved consumers in the mortgage market.
Approved private lenders issue matching loans, bundle them into securities, and issue mortgage-backed securities guaranteed by Jeannie Mae.