The Government National Mortgage Association (GNMA) was created in 1968 under the National Housing Act of 1934 and its subsequent amendments. GNMA, also known as 'Ginnie Mae' was created as a Government-owned corporation within the Department of Housing and Urban Development.
The mission of Ginnie Mae, is to support expanded affordable housing by providing an efficient Government-guaranteed secondary market vehicle to link the capital markets with Federal housing markets. Ginnie Mae guarantees mortgage-backed securities composed of FHA-insured or VA-guaranteed mortgage loans that are issued by private lenders and guaranteed by GNMA with the full faith and credit of the United States. Through these programs, Ginnie Mae increases the overall supply of credit available for housing by providing a vehicle for channeling funds from the securities market into the mortgage market.
The proposed information collection requirement described below will be submitted to the Office of Management and Budget (OMB) for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal.
GNMAStreamlining Existing Regulations and Implementation of Issuer Eligibility and Integrity Reforms
The Government National Mortgage Association (the ``Association'' or ``GNMA'') is revising its regulations to remove references to terminated programs, place proper emphasis on the Association's current programs, remove obsolete references and simplify the language of all remaining sections. In addition, this publication implements a revision to...
This final rule codifies the provisions of two Notices published in the Federal Register on May 26, 1994 and September 30, 1994, as authorized by Congress. Both Notices provided for a comment period. The September 30 Notice responded to comments on the May 26 Notice. This rule provides guidance to entities wishing to participate in the GNMA...
Government National Mortgage Association; Multiclass Securities Program; Announcement of OMB Control Number
On September 30, 1994 (59 FR 50148), the Department published in the Federal Register, a Supplemental Notice for GNMA Multiclass Securities Program, in which it referred to a Notice published in the Federal Register on May 26, 1994 (59 FR 27290), which implemented a new program under which GNMA would guarantee multiclass mortgage-backed...