Government

What does the do?

Updates published annually

The Government National Mortgage Association (Ginnie Mae) is a subdivision of the Department of Housing and Urban Development responsible for promoting homeownership by guaranteeing mortgage-backed securities, ensuring that mortgage lenders have the necessary funds to offer loans to homebuyers. It was established in 1968.

In FY 2024,

-$1.67B

in net spending was recorded by the Government National Mortgage Association

How much does the Government National Mortgage Association spend?

The Government National Mortgage Association spent a net total of -$1.67 billion in fiscal year (FY) 2024. The GNMA ranked sixth among HUD subdivisions in net spending.
Net spending is the difference between agency spending and any financial accounts generating funds from the agency’s own activities, like fees or rent. When these funds offset all spending, net spending appears negative. Some agencies tend to operate with positive net spending while others will register negative net spending sometimes or often.

The Government National Mortgage Association ranked 6th among Department of Housing and Urban Development divisions in net spending in 2024.

HUD net spending by division, FY 2024

Like the overall federal budget, agency spending may shift over time due to population growth, changes in policy and programs, and emerging problems to address. Adjusting for inflation, the Government National Mortgage Association’s federal spending has decreased from $5.32 billion (in 2024 dollars) in 1980 to -$1.67 billion in 2024.

The Government National Mortgage Association’s federal spending in FY 2024 was lower than in FY 1980.

Yearly federal net spending by Ginnie Mae, adjusted for inflation (2024 dollars), FYs 1980–2024

Since 1980, the Government National Mortgage Association's net spending has decreased by $6.99 billion, while overall federal spending has increased from $2.31 trillion (in 2024 dollars) to $6.78 trillion, or 193.7%.
As a percentage of the overall federal budget, a positive number means agency net spending made up some positive share of total federal spending; a negative number means that net generated funds offset a portion of total spending. In 2024, the Ginnie Mae offset 0.025% of all federal spending with negative net spending.

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Major legislation, internal or global economic conditions, and acute events like the COVID-19 pandemic can affect spending year to year. For example, the federal budget fluctuated during the pandemic, rising from $5.3 trillion (in 2023 dollars) in 2019 to $7.7 trillion in 2020 and $7.8 trillion in 2021.

The Government National Mortgage Association offset 0.025% of overall federal spending in FY 2024.

Net spending by Ginnie Mae as a share of federal spending, FYs 1980–2024

Most federal spending can be categorized as direct or indirect. Direct spending refers to money the federal government spends on budget items such as federal programs, employee salaries, and debt interest. Indirect spending refers to federal transfers to state and local governments.
In FY 2024, all of the Government National Mortgage Association's spending was direct.
The chart below outlines all net Ginnie Mae spending.

How did the Government National Mortgage Association spend its budget in 2024?

Federal government net spending isolated to Ginnie Mae, FY 2024

How many people work for the Government National Mortgage Association?

Some 257 of the 2.31 million total civilian federal employees work for the Government National Mortgage Association as of September 2024. This is 262% more people than the division staffed in 2010.

The number of federal employees working for the Government National Mortgage Association has increased 262% since 2010.

Number of federal employees working for Ginnie Mae, September 2010–2024

The Government National Mortgage Association accounts for 0.011% of the overall federal workforce. As the number of federal employees has changed, so too has the way the workforce is organized, with resources allocated to agencies depending on government priorities. The division constituted a larger share of the overall federal workforce in 2024 compared to 2010 (0.0034%).
While the number of employees on an agency’s payroll contributes to that agency’s expenditures, some agencies have relatively few employees compared to their budget or vice versa, giving them an outsized share of either the budget or the workforce. According to the most recent data, the Government National Mortgage Association’s share of the workforce (0.011%) is larger than its share of the budget (-0.025%).

Who leads the Government National Mortgage Association?

Ginnie Mae is led by a president, who is nominated by the president of the United States and does not require Senate confirmation. The president of Ginnie Mae reports to the Secretary of Housing and Urban Development.

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Methodology

USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.

Page sources

USAFacts endeavors to share the most up-to-date information available. We sourced the data on this page directly from government agencies; however, the intervals at which agencies publish updated data vary.

  • Office of Personnel Management

    FedScope

  • Office of Management and Budget and US Department of the Treasury

    Budget of the US Government and Monthly Treasury Statement

    Office of Management and Budget and US Department of the Treasury logo