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Tel: (612) 246-4616
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA) is a corporation owned by the U.S. Government within the Department of Housing and Urban Development with the authority to fully guarantee the timely payment of principal and interest on securities collateralized by FHA-insured or VA-guaranteed mortgages. GNMA is commonly called "Ginnie Mae:' GNMA I securities are single-issuer pools. GNMA II securities are collateralized by multiple-issuer pools or custom pools (one issuer but different interest rates that may vary within one percentage point). Multiple-issuer pools are known as "Jumbos:' Standard GNMAs have a stated maturity of 30 years.
BOOK(S) when used as a noun refers to journals or ledgers (for example: cash book). When used a verb it refers to the recording of an entry (for example: to book the sale).
PEGBOARD SYSTEM see ONE-WRITE SYSTEM.
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