Posted on: 18th Sep, 2009 05:04 am
What are Ginnie Mae mortgage backed securities (MBSs)?
Ginnie Mae mortgage backed securities (MBSs) are mortgage loans who are packed as collateral for securities issued in the secondary market. The most distinguishable feature of Ginnie Mae mortgage-backed securities is that they are fully backed by the US government.
Archie14p, do you ask that question because you are looking for a mortgage or because you are an investor and and want to know about investing in Ginnie Maes?
If you are looking for a mortgage, that is a good question for information, but, has nothing to do with your getting a mortgage. Mortgage money can be a portfolio loan if the money is the bank's own money it is lending. More often than not, the mortgage money you get comes from one of several secondary market sources. You never speak with the secondary market source of mortgage money. Ginnie Maes are one of those secondary market sources that you never speak with. Often that is an FHA mortgage
If you are looking for a mortgage, that is a good question for information, but, has nothing to do with your getting a mortgage. Mortgage money can be a portfolio loan if the money is the bank's own money it is lending. More often than not, the mortgage money you get comes from one of several secondary market sources. You never speak with the secondary market source of mortgage money. Ginnie Maes are one of those secondary market sources that you never speak with. Often that is an FHA mortgage
