Fannie Mae Releases 2010 Mission ReportBy Fannie Mae, PRNE
Thursday, April 28, 2011
Company Continues to Focus on Providing Liquidity, Helping Distressed Families and Creating Value
WASHINGTON, April 29, 2011 - Fannie Mae (OTC: FNMA) today released its 2010 Mission Report, detailing
the company's efforts to provide liquidity, stability and affordability to
the nation's mortgage finance market.
"With the release of our Mission Report, we share an update on our
progress and offer examples of the customers, partners, vendors and families
that have been positively impacted by the work we do every day," said Michael
J. Williams, President and CEO, Fannie Mae. "We provide essential liquidity
to the housing market to ensure families can buy, refinance or rent housing -
in good times and bad. Through our foreclosure prevention efforts, Fannie
Mae helps families stay in their homes whenever possible. Additionally, the
company is building a strong new book of business to deliver long-term
In 2009 and 2010, Fannie Mae provided nearly $1.5 trillion in funds to
the mortgage market, and helped more than one million families buy homes and
more than four million families refinance into lower-cost, safer mortgages.
Fannie Mae also assisted more than 700,000 homeowners struggling to pay their
mortgages work out their loans in 2009 and 2010, helping to protect
neighborhoods, home prices and the housing market.
In 2010, Fannie Mae helped: -- 2.1 million homeowners refinance their mortgages into more sustainable loans. -- 599,000 borrowers buy homes. -- More than 500,000 homeowners avoid foreclosure. -- Support the rental housing market through $17 billion in multifamily financing. In 2010, 91% of the multifamily units that Fannie Mae financed were affordable to families earning at or below the median income in their area. -- Strengthen communities and address homelessness through more than 69,000 employee volunteer hours.
To view the complete report, please click here
Fannie Mae exists to expand affordable housing and bring global capital
to local communities in order to serve the U.S. housing market. Fannie Mae
has a federal charter and operates in America's secondary mortgage market to
enhance the liquidity of the mortgage market by providing funds to mortgage
bankers and other lenders so that they may lend to home buyers. Our job is to
help those who house America.
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Amy Bonitatibus, +1-202-752-4144
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