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Budget Activity 5: Government National Mortgage Association
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SALARIES AND EXPENSES, HOURSING AND URBAN DEVELOPMENT BUDGET ACTIVITY 5: GOVERNMENT NATIONAL MORTGAGE ASSOCIATION SCOPE OF ACTIVITY The Government National Mortgage Association (Ginnie Mae) is responsible for the administration of activities associated with the Mortgage-Backed Securities (MBS) and Multiclass Securities Programs. A brief description of Ginnie Mae's programs is provided below. Mortgage-Backed and Multiclass Securities. Section 306(g) of the National Housing Act authorizes Ginnie Mae to guarantee the timely payment of principal and interest on securities which are issued by approved entities and which are backed by the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), or Rural Housing Service. TYPE OF ACTIVITY BY FUNCTION
TRAVEL CONTRACTS General Support funds the Multiclass, MBS, and related administrative function. |
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Content Archived: January 20, 2009 | ||||||||||||||||||||||||||||||||||||
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