Government National Mortgage Assn. is in the Financial Services Industry

Ginnie Mae's primary ongoing activity is its Mortgage-Backed Securities (MBS) program. The purpose of the MBS program is to increase liquidity in the secondary mortgage market and attract new sources of capital for residential mortgage loans. Through the program, Co. guarantees the timely payment of principal and interest on securities backed by pools of mortgages issued by private mortgage institutions. Co. requires that the mortgages be insured or guaranteed by the Federal Housing Administration, the Rural Housing Service, the Department of Veterans Affairs, or the HUD Office of Public and Indian Housing. As of Sept 30 2006 Co. had total assets of $12,892,700,000.