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Fannie Mae Opens Mortgage Help Center in Miami

""Fannie Mae"":http://www.fanniemae.com announced Monday the opening of a mortgage help center in Miami to help distressed borrowers in South Florida with loans owned by the GSE.

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The Miami facility is the first in a series of local centers that the mortgage financier plans to open across the country. Fannie Mae says the goal is to accelerate the response time for struggling homeowners and improve the company's resolution of problem loans.

At the center, borrowers will meet directly with housing advisors to discuss their mortgage situation. Fannie Mae says these face-to-face meetings will help borrowers better understand the entire range of foreclosure prevention options and work closely with servicers to ensure a prompt response.

The GSE said it is partnering on this initiative with civic and community leaders from Miami-Dade County, Neighborhood Housing Services of South Florida, and major mortgage servicers.

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""The center in Miami and our future centers across the country will build on Fannie Mae's long-standing community development network and strong partnerships with local governments nationwide,"" said Terry Edwards, EVP at Fannie Mae. ""We are committed to helping struggling borrowers understand all of the options available to them to avoid foreclosure and to provide them with the assistance they need in the most streamlined manner possible.""

Miami-Dade County Mayor Carlos Alvarez, said, ""The nationwide housing slump has hit our area particularly hard, and this partnership has the potential to keep families…in their homes.""

Services available at the center include reviewing the borrower's loan, discussing foreclosure alternatives, collecting the required documents for the federal Making Home Affordable program, and reaching a decision on any pending loan workout efforts.

""We know from first-hand experience that struggling homeowners get better results when they have direct access to the information and tools necessary to get a quick response to their mortgage situation,"" said Arden Shank, president and CEO of Neighborhood Housing Services of South Florida. ""Fannie Mae's Mortgage Help Center is the respectful, professional environment borrowers need in order to make informed decisions about what solutions work best for them.""

Fannie Mae also noted that the facility will provide information to struggling borrowers to help them identify and steer clear of foreclosure prevention and loan modification fraud scams.

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.
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