Ginnie Maes Are Backed by the Full Faith and Credit

question 125

True/False

Ginnie Maes are backed by the full faith and credit of the Federal Government.

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Definitions:

Statute of Limitations

The law that sets the maximum period one can wait before filing a lawsuit, depending on the type of case or claim.

Nonconforming Goods

Products delivered under a sales contract that fail to meet the specifications, quality, or quantity required by the agreement.

Remedy

The means by which a violation of rights is compensated or the enforcement of rights is achieved, generally through legal proceedings.

Notification of Breach

A formal notice that a party to a contract has failed to perform an obligation, violating the terms of the agreement.