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GINNIE MAE |
Also found in: Dictionary/thesaurus, Legal, Financial, Encyclopedia, Wikipedia, Hutchinson | 0.07 sec. |
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Mortgage-backed securities fit into the "government" category because most of them are issued by federal agencies such as the Government National Mortgage Association ("Ginnie Mae"), the Federal National Mortgage Association ("Fannie Mae"), and the Federal Home Loan Mortgage Corp. The first securitization wave began in 1968 with the issue of Government National Mortgage Association (Ginnie Mae) pass-throughs, securities based on a pool of mortgages already guaranteed by the federal government, primarily through the Federal Housing Association. 87-3, Accounting for Mortgage Servicing Fees and Rights, addresses determining normal servicing fee rates for transactions with federally sponsored secondary market makers of mortgage loans, such as the Government National Mortgage Association (Ginny Mae), the Federal National Mortgage Association (Fanny Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). |
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