PR Newswire
WASHINGTON, Aug. 29, 2017
WASHINGTON, Aug. 29, 2017 /PRNewswire/ -- Fannie Mae (OTC
Bulletin Board: FNMA) announced that in an effort to ease the burden facing homeowners affected by Hurricane Harvey, it will
implement a 90-day foreclosure sale suspension and a 90-day eviction suspension for borrowers with properties located within a
FEMA- declared disaster area that are eligible for FEMA Individual Assistance.
"Our thoughts are with the families in the path of this powerful and catastrophic storm. We continue to monitor the situation
in the affected areas. The storm, while weakened, continues in many areas and it is simply too early to provide any data or
assessment about the scale or scope of damage resulting from Hurricane Harvey," said Carlos Perez,
Senior Vice President and Chief Credit Officer at Fannie Mae. "Preliminary assessments of actual damage at this point may be
inaccurate and potentially misleading. We will continue to work with our Single-Family servicers to communicate our policies and
ensure borrowers have access to the information and resources they need to help manage their housing challenges. We also continue
to work with our Multifamily DUS® lenders and borrowers to determine appropriate actions to assist renters impacted by
the storm."
In addition to the foreclosure and eviction moratorium, homeowners impacted by Hurricane Harvey may qualify for a forbearance,
a temporary suspension or reduction of their mortgage payment for up to six months. Homeowners with Fannie Mae loans are eligible
for free information and assistance through the Fannie Mae
Mortgage Help Network or by telephone at 1-800-232-6643. To find out if your loan is owned by Fannie Mae, visit www.knowyouroptions.com. If your loan is not owned by Fannie
Mae, use this link to see if Freddie Mac owns
your loan.
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 fanniemae.com and follow us on twitter.com/fanniemae .
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SOURCE Fannie Mae