Fannie Mae Announces Disaster Assistance for Guam Residents Affected by Typhoon Mawar

Washington, May 26, 2023 – In light of recent natural disasters, including Typhoon Mawar in Guam, Fannie Mae (FNMA/OTCQB) is reinforcing its commitment to support affected homeowners, renters, and mortgage servicers by highlighting the availability of mortgage assistance and disaster relief options. As the storm season unfolds across the nation, the mortgage giant stands ready to help those facing difficulties.

Senior Vice President and Chief Credit Officer of Single-Family at Fannie Mae, Cyndi Danko, emphasized the company’s dedication to supporting those affected by such adverse events. “The well-being of those impacted by Typhoon Mawar remains our top priority,” said Danko. “We stand committed to ensuring help is at hand for homeowners and renters in distress, and we urge Guam residents to seek relief at their earliest convenience.”

For homeowners struggling due to a natural disaster or storm, Fannie Mae encourages reaching out to their mortgage servicers to discuss forbearance options. Additionally, homeowners and renters can gain more insights into disaster relief resources and personalized support by utilizing Fannie Mae’s complimentary disaster recovery counseling services.

Under Fannie Mae’s guidelines, homeowners affected by a natural disaster can request mortgage assistance by getting in touch with their mortgage servicer, as stated on their mortgage statement. Furthermore, mortgage servicers have the authorization to provide a forbearance plan for up to 90 days, even without established contact with the homeowner, if the servicer suspects the property was impacted by the disaster.

These forbearance plans often allow homeowners to reduce or temporarily halt their mortgage payments for up to 12 months. Throughout this period, homeowners are protected from late fees, foreclosure, and other legal proceedings. Once the forbearance plan ends, multiple options, including Disaster Payment Deferral, can be utilized to help homeowners catch up on any missed payments.

Notably, homeowners currently on a COVID-19-related forbearance plan who have subsequently been impacted by a natural disaster remain eligible for assistance. Fannie Mae urges these homeowners to contact their mortgage servicer to discuss potential options.

Homeowners and renters seeking disaster recovery resources are invited to visit FannieMae.com for guidance on addressing immediate needs. Additionally, Fannie Mae provides assistance through disaster recovery counseling at 855-HERE2HELP (855-437-3243). This service, operated by Money Management International/MMI, offers access to Department of Housing and Urban Development-approved housing counselors who are trained disaster-recovery experts. The counselors offer a variety of services, including needs assessments and personalized recovery plans, financial relief request assistance from FEMA and other sources, web resources, and ongoing guidance for up to 18 months. Services are also available in Spanish and other languages.

To access Fannie Mae’s disaster recovery counseling free of charge, homeowners and renters can call 855-HERE2HELP (855-437-3243) or visit FannieMae.com for more information.

About Fannie Mae

Fannie Mae is dedicated to creating equitable and sustainable access to homeownership and quality, affordable rental housing for millions across America. The organization enables the 30-year fixed-rate mortgage and promotes responsible innovation to make homebuying and renting easier, fairer, and more accessible. For more information, visit fanniemae.com.

Fannie Mae Newsroom https://www.fanniemae.com/news

Photo of Fannie Mae https://www.fanniemae.com/resources/img/about-fm/fm-building.tif

Fannie Mae Resource Center 1-800-2FANNIE (800-232-6643).