In addition to the residential tenant notification, Fannie Mae also is updating its Renters Resource Finder, the company’s online multifamily property loan look-up tool, to make it easier for tenants to determine if the multifamily property they live in has a Fannie Mae-backed mortgage. Additionally, Fannie Mae will be providing information helpful for tenants, including how tenants can locate assistance options that may be available if they live in a multifamily property financed by the company.
Among the assistance options available is access to Fannie Mae’s Disaster Response Network™ (DRN), a free resource provided by Fannie Mae through Money Management International (MMI) for residents living in apartments financed by Fannie Mae. The DRN offers support from HUD-approved housing counselors*, such as a personalized recovery assessment and action plan, financial coaching and budgeting, and ongoing check-ins to help those who have been impacted financially by COVID-19. Residents can check with their property manager or building owner for more information about the DRN.
For the latest information and resources around COVID-19 available to renters, homeowners, lenders, and servicers, visit Fannie Mae’s Here To Help portal at www.KnowYourOptions.com.
Since March, Fannie Mae has taken a number of actions to help renters and homeowners facing financial hardship due to the COVID-19 pandemic. We previously extended eviction protections to multifamily renters when the property owner received a forbearance, suspended foreclosures and evictions affecting homeowners, 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.
*Operated by Clearpoint Credit Counseling Solutions, a division of MMI, through its Project Porchlight program
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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Media Contact
Katie Penote
202-752-2261
Fannie Mae Resource Center
1-800-2FANNIE
Opinions, analyses, estimates, forecasts and other views of Fannie Mae's Economic & Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae's business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR group bases its opinions, analyses, estimates, forecasts and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current or suitable for any particular purpose. Changes in the assumptions or the information underlying these views, including assumptions about the duration and magnitude of shutdowns and social distancing, could produce materially different results. The analyses, opinions, estimates, forecasts and other views published by the ESR group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.