Government National Mortgage Association (Ginnie Mae) – One of the big players on the secondary loan market, functions like Fannie Mae and Freddie Mac; purchases mortgages on the secondary market, providing funds for the primary mortgage market. The difference between Ginnie Mae and Freddie/Fannie is that Ginnie Mae is wholly owned by the US Government.
- Example: The secondary mortgage market is made up of corporations who securitize, buy and sell mortgages. In addition to the widely known Freddie Mac and Fannie Mae, another one of the big players in the secondary mortgage market is Ginnie Mae or the Government National Mortgage Association.
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