Ginnie Mae
| Government National Mortgage Association (Ginnie Mae) | |
|---|---|
|
|
| Country |
 United States
|
| Seat | Washington, DC |
| legal form | GOE |
| founding | 1970 |
| Website | www.ginniemae.gov |
| Business data | |
| Employee | 140 |
| management | |
| Board | Theodore W. Tozer (President & CEO) |
Ginnie Mae , long name Government National Mortgage Association (GNMA), is a state-owned company in the United States with the business of promoting home ownership by providing cheap loans to home buyers and home builders.
The common term Ginnie Mae is a quasi- acronym for the long name Government National Mortgage Association .
history
Ginnie Mae was formed in 1968 from parts of the then privatized, formerly state-owned mortgage bank Fannie Mae . Ginnie Mae remained a government-owned enterprise at the time , while Fannie Mae received the status of a government-sponsored enterprise as a privatized company .
See also
Web links
- Website of Ginnie Mae (English)