Ginnie Mae Pass-through Securities

Ginnie Mae Pass-through Securities

Under the Ginnie Mae or Government National Mortgage Association (GNMA) program, principal and interest payments collected on mortgages in specified pools are "passed through" to holders of GNMA-guaranteed certificates after deduction of servicing and guaranty fees. Actual maturity of these certificates is 40 years, but the average life is approximately 12 years because of prepayments. The minimum denomination of certificates is $25,000 and issuance is registered form only. GNMA's offer investors an opportunity to participate in "pools" of government guaranteed or insured mortgages without having to be concerned with extensive documentation and paperwork normally associated with mortgage-type investments.

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Related to Ginnie Mae Pass-through Securities:

• Geographical Hedge Fund Guides
• Hedge Fund Employment Guide
• Financial Certification
• Investment Book
• Hedge Fund Terms and Definitions

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