Focus on the pronunciation of Ginnie Mae
English definition of “Ginnie Mae”
noun (abbreviation GNMA)
› GOVERNMENT, FINANCE the Government National Mortgage Association: a US government organization that guarantees (= promises to pay back) loans of particular home buyers if they are not paid back, allowing the organization that lent the money to make more loans: Ginnie Mae funds invest in federally guaranteed mortgages, whose principal and interest payments are assured by the government.
› [C, usually plural] a bond issued by the Government National Mortgage Association: People with money in quasi-government bonds like Ginnie Maes or Freddie Macs have seen those bonds paid off prematurely as rates fell.