Profiles of Existing Government Corporations - US Government ...

135
--Gm periodically monitors the financial condition and the
operating result8 and statistic8 of isSUerS. R8sarvas are
l gt~lished to the extant ranag8aant b8liOV88 i88UOr defaults
are probable, and Federal insurance and guarmnteas are
inaufficiant to recoup GNMA advances.
--Ret investments in mortgages racordmd at the unpaid principal
balance.
b.
C.
d.
--Hortqmge activitie8 are handled by the Federal National
nortgmge Association. Also, thm Federal Home Loan Wortqage
Corporation l aNicam mortgages that Vera previously bought
and mold on GNRA'a behalf.
--GR?lA raiabur8as the Department of Rousing and Urban
Development for facilitie8 and equiprant provided for GRXA'a
use.
--Interest Income is generally recognized aonthly.
--GRNA act8 am tNSt88 iOr one uovarnSant obliaation tN8t
vhich in not included in GNM~s financial l tituent8.
TNStOr agencies, including GNU&, provide the fund8 nmcem8ary
to pay trust debts and l xpensa8.
Revenues include interest incaa, mortgage-backed l acuritiem
progru iems, commitment and other loan fee8, and other
inco8e.
Expen8es include intarast l xRen8e, Tanda plan l xpmses, fees
for 88rViCing Wrtgag88, mortgage-backed 88cUriti88 program
l xpen888, prwision iOr 1088 on the mortgage-backed
securitias program, and abrinistrative and other mxpenmas.
GU8rantOOS outstanding include bond type and pa88-through
guaranteas.
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