Ginnie Mae: Difference between revisions

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 {{Short description|Government-owned financial services corporation aimed at low-income housing in the US}}
-{{refimprove|date=May 2020}}
-{{Infobox company
-| logo = Ginnie Mae logo.png
-| logo_size = 150px
-| predecessor = <!-- or: | predecessors = -->
-| successor = <!-- or: | successors = -->
-| founded = {{start date and age|1968}}
-| hq_location =
-| hq_location_city =
-| hq_location_country =
-| area_served = United States
-| key_people = Sam Valverde, Acting President and Vice President
-| revenue =
-| revenue_year = <!-- Year of revenue data (if known) -->
-| operating_income =
-| income_year = <!-- Year of operating_income data (if known) -->
-| net_income = <!-- or: | profit = -->
-| net_income_year = <!-- or: | profit_year = --><!-- Year of net_income/profit data (if known) -->
-| num_employees = 140
-| num_employees_year = <!-- Year of num_employees data (if known) -->
-| parent = [[United States Department of Housing and Urban Development]]
-| homepage = {{URL|ginniemae.gov}}
-| footnotes =
-}}
 The '''Government National Mortgage Association''' ('''GNMA'''), or '''Ginnie Mae''', is a [[government-owned corporation]] of the United States Federal Government within the [[Department of Housing and Urban Development]] (HUD).<ref>{{Cite web |title=Government National Mortgage Association (Ginnie Mae) {{!}} USAGov |url=https://www.usa.gov/agencies/government-national-mortgage-association-ginnie-mae |access-date=2023-07-27 |website=www.usa.gov |language=en}}</ref> It was founded in 1968 and works to expand [[affordable housing]] by guaranteeing housing loans ([[mortgage]]s) thereby lowering [[financing cost]]s such as interest rates for those loans.  It does that through guaranteeing to investors the on-time payment of [[mortgage-backed securities]] (MBS) even if homeowners default on the underlying mortgages and the homes are [[foreclose]]d upon.