GOVERNMENT NATIONAL MORTGAGE ASSOCIATION
Government National Mortgage Association.A federally owned corporation in the U.S.
Department of Housing and Urban Development responsible for guaranteeing mortgage-backed
securities composed of FHA-insured or VA-guaranteed mortgage loans. • The Association
purchases, on the secondary market, residential mortgages originated by local lenders; it then
issues federally insured securities backed by these mortgages. — Abbr. GNMA. — Also termed
Ginnie Mae. [Cases: United States 53(9).] [Blacks Law 8th]