Statement by Michael J. Williams, Fannie Mae President and Chief Executive Officer, on FHFA's Servicing Alignment InitiativeBy Fannie Mae, PRNE
Wednesday, April 27, 2011
WASHINGTON, April 28, 2011 - The Federal Housing Finance Agency's Servicing Alignment Initiative is a
major step toward creating a consistent and transparent process that enables
homeowners to make better informed decisions to avoid foreclosure. This
initiative will direct servicers to reach families earlier, communicate more
frequently and clearly, and provide relief.
Fannie Mae has long advocated for servicing standards that include clear
and consistent options. We have taken unprecedented steps to educate families
about their options through our Fannie Mae Mortgage Help Centers,
KnowYourOptions.com, and other mortgage relief efforts. The Servicing
Alignment Initiative complements these efforts, which is good for families
and good for American taxpayers. Fannie Mae fully supports this Initiative,
and we remain committed to stabilizing communities and building a stronger
foundation for housing.
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
Tags: April 28, District of Columbia, Fannie Mae, Washington