The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a government-sponsored enterprise (GSE) that buys and sells existing residential mortgages, facilitating liquidity within the mortgage market and enabling more Americans to achieve homeownership.
Ginnie Mae, officially the Government National Mortgage Association, is a government agency within the U.S. Department of Housing and Urban Development (HUD) that guarantees the timely payment of principal and interest on securities backed by residential mortgages.
Third-Party Mortgage Origination involves the process of using an intermediary, generally a mortgage broker, between the borrower and the lending institution. The intermediary performs all tasks and duties required to originate the loan according to the requirements of the lending institution.
