What is GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA)?

A US governmentowned CORPORATION (and agency of the Department of Housing and Urban Development) that purchases residential MORTGAGES guaranteed by the Department of Veterans Affairs and the Federal Housing Administration and pools them into MORTGAGEBACKED SECURITIES (MBS); GNMA MBS, which essentially convert ILLIQUID mortgage ASSETS into marketable securities, carry the agency

More On This Topic




Link to This Definition

Did you find this definition of GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary