FANNIE MAE DELIVERS HELP TO HOMEOWNERS AFFECTED BY HURRICANE

(The following press release from Fannie Mae was received by e-mail. The sender 
verified the statement.) 
November 9, 2012 
Fannie Mae Delivers Help to Homeowners Affected by Hurricane Sandy 
WASHINGTON, DC - Fannie Mae (FNMA/OTC) is acting to ease the burden facing 
homeowners in the path of Hurricane Sandy through an expanded package of 
options for new and existing mortgages. 
"Since 2009, Fannie Mae has responded to the credit crisis by providing 
approximately $3 trillion in liquidity to the mortgage market so that millions 
of Americans can buy homes, refinance their loans or rent affordable housing.  
In that time, we've helped approximately 1.3 million struggling borrowers avoid 
foreclosure," said Timothy J. Mayopoulos, president and CEO of Fannie Mae.  
"Now, we're responding to another crisis by making sure that homeowners have 
options to manage their housing challenges in the aftermath of Hurricane Sandy. 
We want families to know that we are here to help them." 
Servicers may immediately grant a borrower who has been affected by Sandy 
relief for 90 days in order to determine the facts of their situation.  Early 
next week, Fannie Mae will issue guidance to servicers to expand the options 
they can offer to homeowners.  For any homeowner who has suffered damage to 
their home or experienced a disruption in income as a result of Hurricane 
Sandy, servicers are authorized to take the following measures: 
*         Extend forbearance for up to 12 months, where appropriate; 
*         Provide loan modifications, once the homeowner is able to resume  
monthly mortgage payments; 
*         Waive any late payment charges; 
*         Suspend credit reporting for any homeowner for whom relief is  
granted; and 
*         Delay the initiation of any foreclosure action to determine the  
condition of the property and the borrower's employment and income     
status. 
Fannie Mae is implementing a 90-day foreclosure sale suspension and a 90-day 
eviction suspension for properties located within FEMA designated disaster 
areas eligible for individual assistance (those areas can be found at 
http://www.fema.gov/disasters). 
Additionally, Fannie Mae is adjusting its guidelines for disbursements of 
insurance proceeds to ensure that homes damaged by Sandy can be repaired more 
quickly. 
Furthermore, Fannie Mae is taking steps to facilitate completion of mortgage 
loans that were in process when Sandy hit by accepting documents and 
maintaining pricing that were in place at the time of the storm.  Underwriting 
and property valuation documents will now be valid for 180 days in areas 
affected by the storm.  Underwriting documents, such as credit reports and 
income verification, are typically valid for 90 days. Property valuation 
documents, such as appraisals or DU Refi Plus(tm) field work waivers for HARP 
refinances, are typically valid for 120 days.  Property valuations for short 
sales delayed due to Hurricane Sandy will be valid for 180 days instead of the 
usual 90 days. 
Homeowners with Fannie Mae loans are eligible for free information and 
assistance at a Fannie Mae Mortgage Help Center or by telephone.  Contact 
information can be found at 
www.knowyouroptions.com<http://www.knowyouroptions.com/> or by calling 
1-800-7FANNIE (1-800-732-6643).  KnowYourOptions is a resource for borrowers in 
distress and provides the information they need to take action early. To find 
out if Fannie Mae owns their loan, borrowers can visit 
www.knowyouroptions.com/loanlookup<http://www.knowyouroptions.com/loanlookup>.  
Consumers can also go to 
www.knowyouroptions.com<http://www.knowyouroptions.com/> for information on how 
to protect themselves from scams and navigate other challenges caused by the 
storm. 
Fannie Mae will be coordinating local outreach events in the hardest hit 
communities with key federal, state and local housing industry participants.  
Finally, the company is matching donations made by Fannie Mae employees to 
American Red Cross relief efforts. 
Andrew Wilson
Director, Media and External Relations
Office - 202.752.5168
Cell - 202.200.6351
Andrew_j_wilson@fanniemae.com 
(bjh) NY
 
 
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