Meaning of “Ginnie Mae” in the English Dictionary

business-english dictionary

"Ginnie Mae" in Business English

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Ginnie Maenoun

uk us 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.

(Definition of “Ginnie Mae” from the Cambridge Business English Dictionary © Cambridge University Press)