Government National Mortgage Association Gnma

Definition of "Government National Mortgage Association (GNMA)"

Terence Trombetti
  Florida Complete Realty

Is a wholly owned government corporation administered by the Department of Housing and Urban Development. It does not by mortgages; it issues pass-through securities in which interest and principal received on a pool of federally insured mortgage loans is paid to the investor. GNMA guarantees the timely payment of principal and interest in the mortgages.

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