Also referred to as "Ginnie Mae," this government agency guarantees the timely payment of principal and interest on all of its pass-through securities, and its guarantee is backed in turn by the full faith and credit of the U.S. Government. This means that holders of bonds and certificates issued by Ginnie Mae will receive their payments promptly each month, whether or not mortgage payments are collected, and they will receive full repayment of principal even if the mortgages in the pool default.