What types of mortgage-backed securities (MBS) does Ginnie Mae guarantee or issue?
Ginnie Mae guarantees and issues mortgage-backed securities (MBS) backed by federally insured or guaranteed loans. These include securities backed by mortgages insured by the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), the Office of Public and Indian Housing (PIH), and the Department of Agriculture's Rural Development (RD). These MBS are known as Ginnie Mae MBS or GNMA securities. By guaranteeing these MBS, Ginnie Mae ensures that investors receive timely principal and interest payments as borrowers make their mortgage payments. This guarantee provides stability and liquidity to the housing finance market, allowing lenders to continue originating loans and enabling borrowers to access affordable housing options.
Answered Nov 2, 2023
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