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GNMA Funds
What are GNMA Funds?
GNMA stands for the Government National Mortgage
Association, known as Ginnie Mae. It is the federal
agency (a corporation wholly owned by the government) that buys up mortgage loans from banks and turns
them into mortgage-backed securities. As an investor in
mortgage-backed securities, you become the mortgage
lender. Ginnie Mae adds a guarantee to make timely
interest and principal payments, even if the homeowner
pays late.
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