Where your mortgage goes after closing, and why it gets sold
Ginnie Mae and government-backed loans
How it flows
Ginnie Mae does not buy loans. It guarantees securities that approved issuers create from government-insured or government-guaranteed loans, such as FHA, VA and USDA loans. The guarantee carries the full faith and credit of the United States, which helps keep those programs funded.
Last reviewed against the primary sources listed below.
Side by side
| Fannie and Freddie | Ginnie Mae | |
|---|---|---|
| Loans involved | Conventional | FHA, VA, USDA and similar |
| Buys loans? | Yes | No; guarantees securities |
| Overseen by | FHFA | HUD |
Questions about loan sales
Who owns Ginnie Mae?
It is a government corporation within HUD.