Ginnie Mae was created in 1968 as a wholly- owned government corporation within the U.S. Department of Housing and Urban Development. Ginnie Mae guarantees the principal and interest payments on mortgage-backed securities issued by program participants. The securities are collateralized by the cash flows from loans insured or guaranteed by the Federal Housing Administration, Department of Veterans Affairs Home Loan Program for Veterans, Office of Public and Indian Housing, and the U.S. Department of Agriculture Rural Development Housing and Community Facilities Programs.
Ginnie Mae's mission is to expand affordable housing by linking global capital markets to the nation's housing markets.