Ginnie Maes

Definition of "Ginnie Maes"

Debt securities sponsored by the Government National Mortgage Association (GNMA). The objective of the GNMA is to fund high-risk mortgages for high-risk borrowers, typically in areas approved for government construction projects that have no other funding sources. The government body also offers guarantees mortgages issued by others, such as commercial banks, mortgage banks, and insurers,

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