Offering Circular Supplement (To Base Offering Circular dated January 1, 2002) $680,000,000 Government National Mortgage Association GINNIE MAE® Guaranteed REMIC Pass-Through Securities and MX Securities Ginnie Mae REMIC Trust 2002-16 The   securities may not be suita- ble   investments for     you.     You should   consider carefully the risks of investing in them. See  "Risk  Fac- tors"   beginning on page S-7 which highlights some    of    these risks. The Securities The Trust will issue the Classes of Securities listed on the inside front cover. The Ginnie Mae Guaranty Ginnie Mae will guarantee the timely payment of principal and interest on the securities. The Ginnie Mae Guaranty is backed by the full faith and credit of the United States of America. The Trust and its Assets The Trust will own Ginnie Mae CertiÑcates. The  Sponsor  and  the  Co-Sponsor  will  offer  the  securities  from  time  to  time  in negotiated transactions at varying prices. We expect the closing date to be February 22, 2002. You should read the Base Offering Circular as well as this Supplement. The securities are exempt from registration under the Securities Act of 1933 and are "exempted securities" under the Securities Exchange Act of 1934. Goldman, Sachs & Co. Blaylock & Partners, L.P. The date of this Offering Circular Supplement is February 14, 2002.