Offering Circular Supplement (To Base Offering Circular dated January 1, 2002) $715,384,615 Government National Mortgage Association GINNIE MAE® Guaranteed REMIC Pass-Through Securities and MX Securities Ginnie Mae REMIC Trust 2003-024 The securities may not   be   suitable   in- vestments   for   you. You should consider carefully the risks of investing in them. See "Risk Factors" 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 princi- pal and interest on the securities. The Ginnie Mae Guar- anty 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 Certificates. 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 March 28, 2003. 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. The Williams Capital Group, L.P. The date of this Offering Circular Supplement is March 20, 2003. B-2