Offering Circular Supplement
(To Base Offering Circular dated October 1, 2004)
$563,344,000
Government National Mortgage Association
GINNIE MAE®
Guaranteed REMIC Pass-Through Securities
and MX Securities
Ginnie Mae REMIC Trust 2007-033
Class of
REMIC Securities
Original
Principal
Balance(2)
Interest
Rate
Principal
Type(3)
Interest
Type(3)
CUSIP
Number
Final
Distribution
Date(4)
The Securities
The Trust will issue the Classes of
Securities listed on the front cover
of this offering circular supplement.
The Ginnie Mae Guaranty
Ginnie Mae will guarantee the
timely payment of principal and
interest on the securities. The Gin-
nie 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
Certificates.
The securities may not be suitable investments for you. You should consider carefully the risks
of investing in them.
See "Risk Factors" beginning on page S-8 which highlights some of these risks.
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 June 28, 2007.
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.
AZ ................................ $
4,149,445
5.5%
SUP
FIX/Z
38375KEN8
April 2037
BA(1) ..........................
2,194,827
5.5
SUP
FIX
38375KEP3
June 2037
BC(1) ..........................
694,741
5.5
SUP
FIX
38375KEQ1
June 2037
CF(1) ..........................
7,889,333
(5)
SUP
FLT
38375KER9
June 2037
FC(1) ..........................
25,681,000
(5)
TAC
FLT
38375KES7
June 2037
IT(1)............................
32,000,000
(5)
NTL (TAC/AD)
FLT/IO/DLY/SP(6) 38375KET5
June 2037
LB(1) ..........................
58,440,000
5.5
PAC
FIX
38375KEU2
December 2033
LC(1) ..........................
25,145,000
5.5
PAC
FIX
38375KEV0
December 2034
LD(1) ..........................
52,812,000
5.5
PAC
FIX
38375KEW8 November 2036
LE ................................
19,705,000
5.5
PAC
FIX
38375KEX6
June 2037
LI(1)............................
96,560,000
5.5
NTL (PAC)
FIX/IO
38375KEY4
April 2031
LO(1) ..........................
96,560,000
0.0
PAC
PO
38375KEZ1
April 2031
OP(1) ..........................
13,090,910
0.0
TAC I/AD
PO
38375KFA5
June 2037
PF(1) ..........................
154,211,000
(5)
PAC
FLT
38375KFB3
June 2037
PO(1) ..........................
10,472,728
0.0
TAC/AD
PO
38375KFC1
June 2037
PS(1) ..........................
30,842,200
(5)
NTL (PAC)
INV/IO
38375KFD9
June 2037
ST(1) ..........................
30,842,200
(5)
NTL (PAC)
INV/IO
38375KFE7
June 2037
SV ................................
187,781,333
(5)
NTL (PT)
INV/IO
38375KFF4
June 2037
TA ................................
40,000,000
(5)
TAC I/AD
INV/DLY/SP(6)
38375KFG2
June 2037
TC ................................
32,000,000
(5)
TAC/AD
INV/DLY/SP(6)
38375KFH0
June 2037
TD ................................
10,000,000
(5)
TAC/AD
INV/DLY/SP(6)
38375KFJ6
June 2037
TI(1)............................
40,000,000
(5)
NTL (TAC I/AD) FLT/IO/DLY/SP(6) 38375KFK3
June 2037
UO(1)..........................
3,272,728
0.0
TAC/AD
PO
38375KFL1
June 2037
UT(1) ..........................
10,000,000
(5)
NTL (TAC/AD)
FLT/IO/DLY/SP(6) 38375KFM9
June 2037
ZB ................................
1,466,198
5.5
SUP
FIX/Z
38375KFN7
April 2037
ZC ................................
4,750,000
5.5
SUP
FIX/Z
38375KFP2
June 2037
ZD ................................
809,090
5.5
TAC II/AD
FIX/Z
38375KFQ0
June 2037
Residual
RR ................................
0
0
NPR
NPR
38375KFR8
June 2037
(1) These Securities may be exchanged for MX Securities described in Schedule I.
(2) Subject to increase as described under "Increase in Size" in this Supplement. The amount shown for each Notional Class
(indicated by "NTL" under Principal Type) is its original Class Notional Balance and does not represent principal that will be
paid.
(3) As defined under "Class Types" in Appendix I to the Base Offering Circular. The type of Class with which the Class Notional
Balance of each Notional Class (other than Class SV) will be reduced is indicated in parentheses. The Class Notional Balance
of Class SV will be reduced with the Trust Assets.
(4) See "Yield, Maturity and Prepayment Considerations – Final Distribution Date" in this Supplement.
(5) See "Terms Sheet – Interest Rates" in this Supplement.
(6) These classes have the SP ("Special") designation in their Interest Type because their interest rates may change significantly
based on very small changes in the level of LIBOR. See "Terms Sheet – Interest Rates" in this Supplement.
CREDIT SUISSE
BLAYLOCK & COMPANY, INC.
The date of this Offering Circular Supplement is June 21, 2007.
B-2
