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Government National Mortgage Association (GNMA or Ginnie Mae) - Ginnie Mae is a government corporation administering mortgage support programs unavailable in the private market place. GNMA increases liquidity in the secondary mortgage market and attracts new sources of funds for residential loans. Ginnie Mae differs from FNMA in that they do not pu

Historically, loans sold into the secondary market were either insured by the Federal Housing Administration (FHA) or guaranteed by the Veteran’s Administration (VA).

d.

Department of Veterans Affairs (DVA)

In 2008, Fannie Mae was placed into receivership by the federal government and continues its operation under the governmental conservatorship of the Federal Housing Finance Agency (FHFA). They also continue to maintain a resale/refinance program enabling approved lenders to allow borrowers to convert adjustable rate mortgages (ARMs) to fixed rate l

Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac) - Freddie Mac was established to increase the availability of mortgage credit to finance housing by developing, expanding and maintaining a nationwide secondary market primarily for conventional loans originated by HUD-approved lenders. Freddie Mac finances most of its mortgage purchases