FAQ – Fannie Mae Disaster Relief
August 3, 2023 BY MQMR Blogger
Question: In the wake of several natural disasters which recently swept across the country and in anticipation of the approaching Atlantic hurricane season, are there resources available for mortgage lenders to assist consumers affected by such events?
Yes. Fannie Mae recently published Disaster Relief – Single Family Selling/Servicing Frequently Asked Questions (FAQs). The FAQs provide helpful information for mortgage lenders originating or servicing loans for borrowers with properties located in a disaster area.
Fannie Mae also maintains a dedicated Disaster Response webpage which provides valuable resources including where to locate additional guidance and direction in the Selling Guide for loans currently in the process of being originated or loans currently being serviced.
Mortgage lenders and servicers play a key role in helping borrowers and homeowners deal with the financial effects of hurricanes, fires, floods, earthquakes, and other disasters. With the frequency and severity of such events affecting communities nationwide, Fannie Mae provides the tools and flexibility lenders and servicers need to provide effective assistance, including payment relief, loan modifications, and even the additional recovery support provided by HUD-approved housing counselors at Fannie Mae’s Disaster Response Network.