TERMIUM Plus®

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GOVERNMENT NATIONAL MORTGAGE ASSOCIATION [1 record]

Record 1 1998-10-15

English

Subject field(s)
  • Loans
DEF

Subsidized mortgage program under which the Government National Mortgage Association(Ginnie Mae) purchases mortgages above fair market value, and resells them through the Federal National Mortgage Association(Fannie Mae). The program provides financial assistance to developers of nonprofit public housing projects. Ginnie Mae pays the difference-the discount between the price paid by Fannie Mae and the price at which it buys the mortgages, using its credit rating to guarantee the discount, which public housing authorities could not otherwise afford, and in turn accepts a limited loss on the deal.

Key term(s)
  • Tandem

French

Domaine(s)
  • Prêts et emprunts
OBS

Il s'agit de prêts du programme Tandem approuvés par le gouvernement dans la province de Québec.

OBS

Renseignement fourni par un traducteur à la Société du crédit agricole Canada.

Spanish

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