FHFA's Servicing Alignment Initiative - Staement by Michael J. Williams, President and CEO

Amy Bonitatibus

202-752-4144

The Federal Housing Finance Agency's Servicing Alignment Initiative is a major step toward creating a consistent and transparent process that enables homeowners to make better informed decisions to avoid foreclosure. This initiative will direct servicers to reach families earlier, communicate more frequently and clearly, and provide relief.

Fannie Mae has long advocated for servicing standards that include clear and consistent options. We have taken unprecedented steps to educate families about their options through our Fannie Mae Mortgage Help Centers, KnowYourOptions.com, and other mortgage relief efforts. The Servicing Alignment Initiative complements these efforts, which is good for families and good for American taxpayers. Fannie Mae fully supports this Initiative, and we remain committed to stabilizing communities and building a stronger foundation for housing.