Natural disasters have been extremely tumultuous for many homeowners across the country, navigating a year full of hurricanes, fires and tornadoes

In response to the impact these disasters have on homeowners, Fannie Mae has announced a partnership with Clearpoint Credit Counseling Solutions to expand its current relief options.

“Communities face extraordinary challenges dealing with the impacts of a natural disaster,” Fannie Mae Vice President of Disaster Recovery and Rebuild Michael Hernandez said in a press release. “For homeowners, the process can be complex, stressful and time-consuming.”

In order to make the process easier for disaster victims, Fannie Mae will utilize Clearpoint’s Project Porchlight program to bring homeowners its Disaster Response Network.

The Disaster Response Network utilizes a call center model staffed exclusively by counselors that are certified by the Department of Housing and Urban Development to provide homeowners personalized support, addressing safety and basic needs, property repairs, employment and financial recovery, according to the GSE.

This is how Fannie will help homeowners navigate the recovery process:

·   A comprehensive case assessment and action plan designed to meet the homeowner’s needs. 

·   Assistance in filing FEMA, insurance, and Small Business Administration (SBA) claims as well as providing additional referrals and resources for disaster recovery and resiliency. 

·   Tri-party calls with assistance providers and homeowners, plus ongoing counselor-homeowner check-ins to help ensure a successful recovery.

·   A web-based platform designed to educate borrowers, provide resources and updates, and create a supportive online community of neighbors facing similar challenges.

Notably, Fannie Mae homeowners living in a FEMA-declared zone are eligible for free assistance from the Disaster Response Network. Fannie Mae also extends eligibility to borrowers with unaffected homes, but negatively impacted employment.

“We want to help families regain their personal and financial footing beginning with mortgage relief, but also by helping more broadly to ensure a successful recovery,” Hernandez concluded.

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