Guaranteed Mortgage Certificates
are two types of GNMA-guaranteed mortgage-backed securities:
mortgage-backed bonds, issued by the FEDERAL NATIONAL MORTGAGE
ASSOCIATION and the Federal Home Loan Mortgage Corporation, and passthrough
securities, guaranteed by the GNMA and issued by private mortgage lenders
against specified pools of FEDERAL HOUSING ADMINISTRATION, FARMERS HOME
ADMINISTRATION, or VA-guaranteed mortgages.
See GOVERNMENT NATIONAL
MORTGAGE ASSOCIATION for details of these securities.
see FEDERAL HOME LOAN MORTGAGE
CORPORATION for details of its two types of guarantees:
guaranteed mortgage certificates (GMCs) and mortgage participation
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