In times of crisis, it is essential to have trusted resources to guide us through uncertainty, and as an industry leader, Fannie Mae is here to help fill the information gap. We believe renters and homeowners should not have to navigate a barrage of confusing and sometimes misleading information alone, and that’s why we launched a new education campaign – “Here to Help.”
Here to Help is a campaign that will provide resources and information to help renters stay in their apartments and homeowners stay in their homes. Know Your OptionsTM is the hub for these resources.
As part of the campaign we launched a Renters Resource Finder for multifamily renters.
The tool is easy to use – multifamily renters simply input their address which matches them with applicable resources. If they live in a Fannie Mae financed property, they’ll be led to our Disaster Response Network™. If not, they’ll be supplied with other information and resources that could help them get answers to their questions and address their financial situation.
The Disaster Response Network offers free help to renters in a Fannie Mae financed property with the broader financial challenges caused by COVID-19. It includes:
- Access to HUD-approved housing counselors who can create a personalized action plan, offer financial coaching and budgeting, and provide other support for up to 18 months;
- Federal and state housing assistance information and;
- Guidance on unemployment benefits, nutritional assistance, and any other available programs.
The entire Fannie Mae team is here to help you, your Borrowers, and the residents who live in our properties – more than the name of a campaign, it’s a principle we practice daily. As I said in my last Wire, we are built to adapt to change, and our delegated model allows us to move with you as the market demands. We’ve put a number of tools in place over the past several weeks to help ensure a safe and sound housing market while remaining a source of liquidity.
Please pass the Renters Resource Finder resource on to your Borrowers and let us know what we can do to provide further support around our response to COVID-19 – your input is invaluable as we determine where to concentrate our time and energy.
Once again, we appreciate your partnership as we adapt to living and working in difficult circumstances. Please reach out to your Deal Team if you have any questions.
Stay safe and healthy.