Fannie Mae Opens Mortgage Help Center Expansion in Inland Empire, California

Expanded Facility Provides Free Education and Counseling to Local Homeowners Facing Hardship

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Aug 01, 2012, 12:30 ET

WASHINGTON, Aug. 1, 2012 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) today opened an extension of its Los Angeles Mortgage Help Center in the Inland Empire region to provide free education and counseling services to struggling California homeowners. The Inland Empire facility, in partnership with the existing Los Angeles Help Center, is part of Fannie Mae's nationwide effort to educate families about the options and tools available to help them stay in their homes or otherwise avoid foreclosure. The satellite facility was developed in partnership with Neighborhood Partnership Housing Services Inc., a NeighborWorks Organization.

"We want to prevent as many foreclosures as we can, which is best for the homeowner and best for the community," said Leslie Peeler, Senior Vice President, National Servicing Organization, Fannie Mae. "One of the keys in preventing foreclosure is to find a solution as early as possible, so we encourage any homeowner who is having trouble with their mortgage to reach out for help. The services we provide at our Mortgage Help Centers are absolutely free. There is no reason to pay for help in sorting through your mortgage problems."

"The Fannie Mae Mortgage Help Center is an example of bringing tangible resources to address a regional issue," said Clemente A. Mojica, President and CEO of Neighborhood Partnership Housing Services, Inc. "There are many families in San Bernardino and Riverside County that are struggling to make their mortgage payments. Neighborhood Partnership Housing Services is committed to doing its part to help them understand their options and avoid foreclosure, which is why we are excited to partner with Fannie Mae on this initiative."

The Los Angeles Mortgage Help Center has assisted 2,320 homeowners since opening in November of 2010. More than sixty percent of those who have been helped have received a workout that allowed them to remain in their homes. Others have been able to avoid foreclosure through a graceful exit, such as a deed-in-lieu of foreclosure or a short sale. At the Inland Empire facility, borrowers can meet directly with dedicated on-site English- and Spanish-speaking housing counselors to discuss their mortgage situation. These face-to-face meetings will help borrowers better understand the range of foreclosure prevention options available and advise them on how to resolve their mortgage situation.

Fannie Mae now has twelve Mortgage Help Centers located across the country available for any borrower who has a mortgage held by Fannie Mae. Homeowners can determine if Fannie Mae owns their loan by visiting www.fanniemae.com/loanlookup or by contacting Fannie Mae at 1-800-7FANNIE. Homeowners who do not have loans owned by Fannie Mae can contact the Homeowner's HOPE™ Hotline at 888-995-HOPE. Information, resources and contact information for the Mortgage Help Centers can be found at www.KnowYourOptions.com.

The Inland Empire Mortgage Help Center facility is available by appointment only and borrowers wishing to schedule a visit should call (866) 442 -9409 or e-mail [email protected].

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.

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SOURCE Fannie Mae