CoronavirusMortgage

Fannie Mae, Freddie Mac launch online resources for consumers

GSEs roll out interactive, helpful tools for consumers

Fannie Mae has launched a new initiative to help homeowners and renters who have been impacted by the COVID-19 pandemic. “Here to Help” is available as an online resource for hard-hit homeowners and renters.

“Fannie Mae is committed to providing sustainable housing options to help keep people in their homes,” Fannie Mae Chief Executive Officer Hugh R. Frater said. “We hope Here to Help will bring some clarity, transparency, and assurance to homeowners and renters who are facing job loss, reduction in work hours, illness, or other issues related to COVID-19.”

“We are committed to putting people first, helping Americans stay in their homes, helping customers stay in business, and ensuring that the nation’s mortgage and housing markets remain strong,” Frater continued.

The “Here to Help” online portal at knowyouroptions.com features informative videos, fact sheets, mortgage loan and apartment rental lookup tools, and other resources to equip homeowners and renters with the information they need to successfully navigate their options.

The portal also provides mortgage servicers and lenders with tools to better assist their customers. This includes clear explanations of forbearance, repayment options after forbearance and training videos for loan servicers.

Freddie Mac is also launching a new initiative, called #HelpStartsHere. These interactive tools are made available to consumers to help them stay in their homes, according to the GSE.

“While we have taken unprecedented action to help millions of owners and renters struggling due to this pandemic, our efforts cannot be fully effective without widespread awareness,” said Freddie Mac CEO David Brickman. “Our online tools are designed to ensure those affected are aware of their options so they can get the help they need now.”

MyHome, Freddie Mac’s consumer education website, was relaunched on Tuesday, providing a comprehensive guide to owning, renting and getting help, available in multiple languages.

Freddie Mac said that the campaign offers clear, direct access to important resources for borrowers and servicers who need options in the current environment. It includes an interactive experience to help homeowners assess their options related to COVID-19, a homeowner checklist and resources for servicers to help their borrowers.

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