A slang term referring to a Government National Mortgage Association (GNMA) bond, which has a 15 year maturity. The midget is secured by mortgages backed by federal agencies. GNMA is also known as "Ginnie Mae".



|||The GNMA was started in an attempt to make affordable housing available to lower income families. The term midget is a slang term used by dealers to refer to these bonds and it is not used by GNMA to formally describe any of its securities.