Ginnie Mae, or the Government National Mortgage Association, is a corporation inside the U.S. Department of Housing and Urban Development. It was originally founded as the Federal National Mortgage Association before being split into Fannie Mae and Ginnie Mae in 1968. Ginnie Mae’s responsibility is to support the market for the following loans:
As a loan officer, you should be aware of your borrower’s needs and the best options for them when they come to you for a home loan. It’s your job to give them choices that work with their financial situation, and conforming loans will be one type of financing that you will see very often.
As a loan officer and a consumer, it’s important to know about the secondary mortgage market and the corporations that are involved. These publicly-traded corporations are called government sponsored enterprises.