Government National Mortgage Association (GNMA)

a government owned corporation commonly referred to as "Ginnie Mae." GNMA does not buy mortgages, nor does it issue securities. Its primary activity is guaranteeing mortgage-backed securities issued by mortgage lenders that are backed by pools of loans guaranteed by entities such as the Federal Housing Agency, the Department of Veteran Affairs and the Rural Housing Service. These guarantees are backed by the full faith and credit of the United States.