What does the do?

Refreshed 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 2025,

-$4.03B

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 -$4.03 billion in fiscal year (FY) 2025. The Government National Mortgage Association 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 2025.

HUD net spending by division, FY 2025

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 $5.47 billion (in 2024 dollars)in 1980 to -$4.03 billion in 2024.

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The Government National Mortgage Association’s federal spending in FY 2025 was lower than in FY 1980.

Yearly federal net spending by Ginnie Mae, adjusted for inflation (2025 dollars), FYs 1980–2025

Since 1980, the Government National Mortgage Association's net spending has decreased by $9.5 billion, while overall federal spending has increased from $2.37 trillion (in 2025 dollars) to $7.04 trillion, or 196.9%.
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 2025, the Ginnie Mae offset 0.057% of all federal spending with negative net spending.
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 0.057% of overall federal spending in FY 2025.

Net spending by Ginnie Mae as a share of federal spending, FYs 1980–2025

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 2025, 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 2025?

Federal government net spending isolated to Ginnie Mae, FY 2025

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.