Florida Real Estate Practice Exam

When was Ginnie Mae established?

1. 1968

2. 1970

3. 1980

4. 1990

The correct answer is: 1968

Ginnie Mae, also known as the Government National Mortgage Association, was established in 1968 as a government-owned corporation. This was in response to the growing demand for mortgage-backed securities in the market to help expand homeownership opportunities for low and moderate-income families. Option B, 1970, is incorrect because it was four years after the establishment of Ginnie Mae. Option C, 1980, is incorrect because it was twelve years after the establishment of Ginnie Mae. Option D, 1990, is incorrect because it was twenty-two years after the establishment of Ginnie Mae.