Daily Archives: March 19, 2020

Fannie Mae Assistance Options for Homeowners Impacted by COVID-19

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WASHINGTON, March 18, 2020 (PRNewswire) Fannie Mae (OTCQB: FNMA) wants to help ensure families are given options in these uncertain times in the case of job loss, a reduction in work hours, illness, or other issues. We want to remind those impacted by COVID-19 of available mortgage assistance and relief options. Under Fannie Mae’s guidelines for single-family mortgages:

  • Homeowners who are adversely impacted by this national emergency may request mortgage assistance by contacting their mortgage servicer
  • Foreclosure sales and evictions of borrowers are suspended for 60 days
  • Homeowners impacted by this national emergency are eligible for a forbearance plan to reduce or suspend their mortgage payments for up to 12 months
  • Credit bureau reporting of past due payments of borrowers in a forbearance plan as a result of hardships attributable to this national emergency is suspended
  • Homeowners in a forbearance plan will not incur late fees
  • After forbearance, a servicer must work with the borrower on a permanent plan to help maintain or reduce monthly payment amounts as necessary, including a loan modification

Fannie Mae also offers help navigating the broader financial effects of this national emergency to homeowners with a Fannie Mae-owned mortgage through its Disaster Response Network*, including:

  • A needs assessment and personalized recovery plan
  • Help requesting financial relief from insurance, servicers, and other sources
  • Web resources and ongoing guidance from experienced disaster relief advisors

Homeowners can find out if they have a Fannie Mae-owned mortgage and access to the Disaster Response Network™* by visiting www.KnowYourOptions.com/loanlookup.

“Our thoughts are with everyone who may be impacted by COVID-19 and we urge you to stay safe and well during these unprecedented times. Fannie Mae, along with our lending and servicing partners, is committed to ensuring assistance is available to homeowners in need. We encourage residents whose employment or income are impacted by COVID-19 to seek available assistance as soon as possible,” said Malloy Evans, Senior Vice President and Single-Family Chief Credit Officer, Fannie Mae.

Homeowners can reach out to Fannie Mae directly by calling 1-800-2FANNIE (1-800-232-6643). For more information, please visit www.knowyouroptions.com/covid19assistance.

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:

fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog 

Fannie Mae Newsroom
https://www.fanniemae.com/news

Photo of Fannie Mae
https://www.fanniemae.com/resources/img/about-fm/fm-building.tif

*Operated by Clearpoint Credit Counseling Solutions, a division of MMI, through its Project Porchlight program

NAR to Deliver Virtual Solutions for 2020 Realtors® Legislative Meetings & Trade Expo

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In-person meetings will not be held as scheduled from May 11–16

Washington, D.C. – March 18, 2020 (nar.realtor) Due to recent restrictions and recommendations implemented by the federal and Washington, D.C. governments, the National Association of Realtors® announced Wednesday that it will deliver previously-planned programming and committee meetings virtually. With the Centers for Disease Control issuing guidance limiting discretionary travel and large gatherings, and the city of Washington, D.C. instituting a state of emergency to limit the spread of COVID-19, we will no longer hold the 2020 REALTORS® Legislative Meetings and Trade Expo in person from May 11-16 in Washington, D.C.

The nation’s largest trade association also announced Wednesday that it will use the time from now until July 1 as a reset to implement new virtual opportunities for member participation within all of its meetings and events. In addition, NAR noted it will be “putting members first” by focusing on enhancing and increasing member offerings that will directly help America’s 1.4 million Realtors® navigate the coronavirus’ unprecedented impact on members’ personal lives and businesses.

NAR will provide virtual options to ensure the full governance of its organization can continue while designing a true virtual meeting and convention in place of the RLMTE. The virtual experience will include, among other components:

  • Committee Meetings
  • Key Sessions
  • Elections
  • Coordination to secure alternate avenues for participation for state and local associations

Payment and Refunds

  • Registration: The majority of registrations required no fee and will be cancelled. Individuals who paid for the meetings, expo, pre-conference courses or special events will be automatically refunded in full.
  • Hotel: Those who reserved a hotel through NAR will have registration automatically cancelled; no deposits have been processed.
  • Airfare: Please contact your air carrier as soon as possible and seek a refund or credit.

NAR looks forward to bringing members and participants together with engaging technology. Details on virtual meetings and dates will be forthcoming.

The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.