Government National Mortgage Association

The Government National Mortgage Association (GNMA), or Ginnie Mae, was established in the United States in 1968 to promote home ownership. As a wholly owned government corporation within the Department of Housing and Urban Development (HUD), Ginnie Mae’s mission is to expand affordable housing finance in America by linking domestic and global capital to the nation's housing finance markets, providing liquidity to federally sponsored mortgage lending programs.

The Ginnie Mae guarantee allows mortgage lenders to obtain a better price for their loans in the capital markets. Lenders then can use the proceeds to make new mortgage loans available to consumers. This also helps to lower financing costs and create opportunities for sustainable, affordable housing for families seeking home ownership.

History

In 1934, during the depths of the Great Depression, Congress responded to the crisis by passing the National Housing Act of 1934, which established the Federal Housing Administration (FHA). One of the principal objectives of the FHA was to increase the flow of capital to the housing markets by insuring private lenders against the risk of mortgage default. FHA also was tasked with chartering and regulating a national mortgage association that would buy and sell FHA-insured mortgages.

Mae

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Mae is an American rock band that formed in Norfolk, Virginia in 2001. The band's name is an acronym for "Multi-sensory Aesthetic Experience", based on a course taken by drummer Jacob Marshall while a student at Old Dominion University.

History

Jacob Marshall and Dave Elkins began what would become Mae by writing their first song, "Embers and Envelopes", in Marshall's living room. The band signed with Tooth and Nail Records and released their first album, Destination: Beautiful, in 2003. They released their second full-length album, The Everglow, in 2005. The band toured extensively to promote it, and also performed on the Vans Warped Tour. Mae re-released The Everglow in 2006, adding three new songs and a two-hour DVD.

Later in 2006, the band signed to Capitol Records for their third full-length album. Mae began recording the album in the fall of 2006, working with producer Howard Benson (who has produced albums for Saosin, My Chemical Romance, Blindside, and Relient K). The album, titled Singularity, was released on August 14, 2007. On June 19, 2007, the band released the first single from Singularity, "Sometimes I Can't Make It Alone".

MAE

MAE or Mae may refer to:

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Mae (surname)

Mae, Mäe or Maé is a surname that may refer to