Fannie Mae Launches "Here to Help" Education Effort
Seeks to Help Homeowners and Renters Impacted by COVID-19 Understand Housing Support Options
WASHINGTON, May 26, 2020 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today launched "Here to Help," an education effort to connect U.S. homeowners and renters with tools and resources to navigate the available options if they experience a financial hardship due to COVID-19.
"Fannie Mae is committed to providing sustainable housing options to help keep people in their homes," said Hugh R. Frater, Chief Executive Officer, Fannie Mae. "We hope Here to Help will bring some clarity, transparency, and assurance to homeowners and renters who are facing job loss, reduction in work hours, illness, or other issues related to COVID-19."
The "Here to Help" online portal at KnowYourOptions.com features informative videos, fact sheets, mortgage loan and apartment rental lookup tools, and other resources to equip homeowners and renters with the information they need to successfully navigate their options. The portal also provides mortgage servicers and lenders with tools to better assist their customers. This includes clear explanations of forbearance, repayment options after forbearance, and training videos for loan servicers.
Through "Here to Help," homeowners and residents of multifamily rental properties with a Fannie Mae-backed mortgage can access HUD-approved housing counselors via the Disaster Response Network. Fannie Mae finances about one-in-four homes and one-in-five multifamily mortgage loans in the United States.
"We are committed to putting people first, helping Americans stay in their homes, helping customers stay in business, and ensuring that the nation's mortgage and housing markets remain strong," said Frater.
Since March, Fannie Mae has taken a number of actions to help homeowners and renters facing financial hardship due to COVID-19. We took action to suspend foreclosures and evictions affecting homeowners, extended eviction protections to multifamily renters when the property owner received a forbearance, reminded homeowners they are never required to repay missed payments during a forbearance period all at once, shared tips to help homeowners avoid foreclosure fraud or scams, and announced a new COVID-19 payment deferral option to help homeowners who are ready to resume their monthly mortgage payments following a COVID-19 forbearance.
About Fannie Mae
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit:
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