Ginnie Mae's goal is to support the expansion of affordable housing in America, by providing an efficient government-guaranteed secondary market vehicle, linking the capital markets with Federal housing markets
Since 1968, Ginnie Mae has been a cornerstone of the American mortgage market. Chartered by the United States Congress as a government corporation, Ginnie Mae provides liquidity for low- and moderate-income and first-time home buyers. Through their commitment and creativity, they have funded over $1.9 trillion in residential mortgages, and continue to fund at a rate of $125 billion a year, providing homeownership opportunities for over 25.5 million households. They have been able to accomplish their mission by utilizing the capital markets through their mortgage-backed securities and multiclass securities programs.
History - Ginnie Mae was created in 1968 as a wholly owned corporation within the Department of Housing and Urban Development (HUD). Its purpose was - and is - to serve low-to moderate-income homebuyers.
Mission - Ginnie Mae's mission and strategic vision have been captured in three primary goals. These goals guide the organization in the prioritization of its resources and activities to focus on outcomes rather than outputs and processes.
Creating mortgage backed securities - Ginne Mae creates securities from mortgage loans.
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