Fannie Mae Offering Relief Programs in Wildfire Areas

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Posted To: MND NewsWire

Fannie Mae has expanded the menu of post-disaster services it is offering to its borrowers. The new services are in addition to the up to 12 months of forbearance, waived fees, and temporary foreclosure moratorium that Freddie Mac and Fannie Mae (the GSEs) traditionally offer in the wake of hurricanes, wildfires, and other disasters. A press release from Fannie Mae, probably prompted by the unprecedented destruction and loss of life from wildfires in both the northern and southern parts of California, announces personalized case management services through its Disaster Response Network. The program will provide personalized support “to address safety and basic needs, property repairs, employment, and financial recovery-all of which affect a borrower’s ability to meet their mortgage obligations…(read more)

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