The purchase by the Government National Mortgage Associate of certain mortgages at par for subsequent resale at market prices to the Federal National Mortgage Association.
A program in which the government national mortgage association (gnma) buys certain mortgages at a subsidized price for subsequent resale at market prices to the federal home loan mortgage corporation (fhlmc) or the federal national mortgage association (fnma).... read full article
Government program of providing low interest rate mortgages to low-income qualified buyers. In the tandem program, the Federal National Mortgage Association (FNMA) purchases low interest rate mortgages at a discount from the Government National Mortgage Association (GNMA). In doing this, GNMA subsidizes the low-income homebuyer and incurs a loss on the transaction.