Ginnie Mae I

What are Ginnie Mae I Mortgage-Backed Securities? 

Ginnie Mae I MBS are modified pass-through mortgage-backed securities on which registered holders receive separate principal and interest payments on each of their certificates.

Ginnie Mae I MBS are based on single-family pools and are Ginnie Mae’s most heavily-traded MBS product. The underlying mortgages generally have the same or similar maturities and the same interest rate on the mortgages. Single-family Ginnie Mae I pools have a 50 basis point (0.5 percent) guaranty and servicing fee. The Ginnie Mae I MBS also permits the securitization of multifamily mortgages. Ginnie Mae I payments are made to holders on the 15th day of each month.

The securitization provisions are established in detail in the Ginnie Mae MBS Guide.

Ginnie Mae I Key Program Provisions

Types of mortgage pools and guaranteed securities:

• Single-family level-payment mortgages

• Single-family buydown mortgages

• Single-family graduated payment mortgages

• Single-family growing equity mortgages

• Manufactured home loans

• Project construction loans, including multifamily residential, hospital, nursing home, and group practice facility loans

• Project (permanent) loans, including multifamily residential, hospital, nursing home, and group practice facility loans