Ginnie Mae
noun
ukus(abbreviationGNMA)GOVERNMENT,FINANCE
the GovernmentNationalMortgageAssociation: a USgovernmentorganizationthatguarantees(=promisestopayback)loansofparticularhomebuyersif they are notpaidback,allowingtheorganizationthatlentthemoneyto make moreloans:
Ginnie Maefundsinvestin federallyguaranteedmortgages, whoseprincipalandinterestpaymentsareassuredby thegovernment.
[C,usually plural]
abondissuedby the GovernmentNationalMortgageAssociation:
People withmoneyin quasi-governmentbondslike Ginnie Maes or FreddieMacshaveseenthosebondspaidoffprematurelyasratesfell.