Fannie To Reimburse Loan Servicers For "HOPE" Counseling Referrals For Delinquent Homeowners

Fannie Mae announces:

• As part of its ongoing commitment to support borrowers facing potential foreclosure, Fannie Mae will reimburse its servicing partners when they refer homeowners who are behind in their mortgage payments to the HOPE Hotline for counseling. "We have to do everything we can, and early intervention and delinquency counseling are key to helping many at-risk homeowners avoid foreclosure," said Jason Allnutt, Vice President for Credit Loss Management and Quality Assurance at Fannie Mae. "We believe that in these difficult times, independent counseling agencies can play a unique role by helping servicers help borrowers find more opportunities to avoid foreclosure and keep their homes." The toll-free hotline, 1-888-995-HOPE, is available 24-hours a day to provide mortgage counseling in multiple languages.

For more, see Fannie Mae Will Reimburse Its Servicers for Referrals to HOPE Hotline.

See also, How to Avoid Foreclosure and Protect Home Equity.