The Government National Mortgage Association (GNMA), or Ginnie Mae, was established in the United States in 1968 to promote home ownership. As a wholly owned government corporation within the Department of Housing and Urban Development (HUD), Ginnie Mae’s mission is to expand affordable housing in the United States by channeling global capital into the nation’s housing finance markets. The Ginnie Mae guarantee allows mortgage lenders to obtain a better price for their loans in the capital markets. Lenders then can use the proceeds to make new mortgage loans available to consumers. This also helps to lower financing costs and create opportunities for sustainable, affordable housing for families seeking home ownership.
Read more about Government National Mortgage Association: History, Business, Role in The Housing Recovery, Government-sponsored Enterprises and Government-owned Enterprises
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“[F]rom Saratoga [N.Y.] till we got back to Northampton [Mass.], was then mostly desert. Now it is what 34. years of free and good government have made it. It shews how soon the labor of man would make a paradise of the whole earth, were it not for misgovernment, and a diversion of all his energies from their proper object, the happiness of man, to the selfish interests of kings, nobles and priests.”
—Thomas Jefferson (1743–1826)
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—Howard Barker (b. 1946)
“The mortgage is still in our name but, increasingly, the house is theirs. One diaper, one vote.”
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—Edgar Lee Masters (1869–1950)