News Release - Fannie Mae Mortgage Help Center Opens in Phoenix

New Center Provides Homeowners with Free Foreclosure Prevention Services

Jason Vasquez

202-752-2878

WASHINGTON, DC — Fannie Mae (FNMA/OTC) today announced the opening of a new mortgage help center in Phoenix to provide counseling and other services for struggling homeowners in the greater metro area with loans owned by Fannie Mae. The Phoenix Mortgage Help Center is the fifth facility in a series of nationwide mortgage help centers. Fannie Mae is partnering on this initiative with Neighborhood Housing Services (NHS) of Phoenix, major mortgage servicers, and civic and community leaders from across the region.

At the help center, borrowers will meet directly with dedicated on-site English- and Spanish-speaking staff and experienced 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.

"The opening of this mortgage help center is part of a comprehensive approach by Fannie Mae to assist distressed homeowners who may be at-risk of foreclosure," said Jeff Hayward, Fannie Mae's Senior Vice President, National Servicing Organization. "Maricopa County leads the state with more than 11,000 foreclosure filings. The staff and housing counselors at the Phoenix Mortgage Help Center will help distressed homeowners navigate the options that best address their mortgage situation. Homeowners who are struggling to make their mortgage payments should proactively reach out to their servicer and be wary of any person or business promising to offer a modification for a fee."

"NHS Phoenix is grateful for the opportunity to partner with Fannie Mae," said Patricia Garcia Duarte, President and CEO, Neighborhood Housing Services of Phoenix. "We are excited about the possibilities of helping more families save their homes. For those families unable to stay in their homes, we want to help them exit gracefully and help them begin a plan for rebuilding their credit."

Counselors will provide a full range of services, which include reviewing a borrower's loan, discussing foreclosure alternatives, collecting the required documents for the federal Making Home Affordable Program and providing help to finalize any pending loan workout efforts. Fannie Mae and NHS of Phoenix will provide information and clarify expectations for the foreclosure prevention process. Efforts will be made to counteract local scams and groups that charge fees for modifications and foreclosure prevention services.

The help center is 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 (800) 7FANNIE. Homeowners who do not have loans owned by Fannie Mae can contact the Homeowner's HOPE™ Hotline at (888) 995-HOPE or visit Fannie Mae's new consumer Web site, www.KnowYourOptions.com.

The Phoenix Mortgage Help Center is available by appointment only and borrowers wishing to schedule a visit should call (866) 442-8574 or E-mail [email protected].