Fannie Mae says it will reimburse its servicing partners when they refer homeowners who are behind in their mortgage payments to the HOPE Hotline for counseling.
‘We have to do everything we can, and early intervention and delinquency counseling are key to helping many at-risk homeowners avoid foreclosure,’ says Jason Allnutt, vice president for credit loss management and quality assurance at Fannie Mae. ‘We believe that in these difficult times, independent counseling agencies can play a unique role by helping servicers help borrowers find more opportunities to avoid foreclosure and keep their homes.’
Servicers are encouraged to contact their Fannie Mae account representatives for details on this new program and on other incentives and reimbursements already in place.
