. government agency bonds and securities are issued by agencies that are owned, backed, or sponsored by the . some of those bonds and securities are backed by the full faith and credit of the government, others carry less formal most common agency securities are mortgage pass-through securities such as those issued by the Government National Mortgage Association (GNMA, or “Ginnie Mae”), the Federal National Mortgage Association (FNMA, or “Fannie Mae”), and the Federal Home Loan Mortgage Corporation (FHLMC, or “Freddie Mac”). Mortgage pass-through securities are backed by home mortgage loans. By purchasing mortgage pass-through securities, investors are making mortgage loans to homeowners through intermediary make monthly.
