Fannie Mae-No Politics (FNMA)

[navycmdr]

"In the third quarter of 2013, we reported net income of $8.7 billion‚ our seventh consecutive quarterly profit. Our profits go back to taxpayers. Through December 31‚ 2013‚ Fannie Mae will have paid taxpayers approximately $114 billion in dividends. But we measure our progress by more than profit alone."

Ultimately, we measure our progress not only by paying taxpayers and improving the housing finance system‚ but also by the difference we make in people’s lives. This is where the value we deliver and our values intersect.
HELPING HOMEOWNERS AND NEIGHBORHOODS

For example‚ we help families avoid foreclosure – 1.3 million since 2009. We work with mortgage servicers to reach at-risk homeowners early‚ helping them stay in their homes when possible. We also offer innovative online tools such as KnowYourOptions.com, which provides a one-stop resource for people who are interested in getting a mortgage, refinancing a mortgage, or renting a home, and for those at risk of losing their home.

Unfortunately, some homeowners simply can’t afford to stay in their homes. In these circumstances, we provide alternatives that allow for a graceful exit and help the borrowers repair their credit sooner than they would following a foreclosure. A short sale, for example, allows a homeowner to settle their mortgage debt even if the amount owed is greater than what the house is worth. Depending on the circumstances, the borrower might also qualify for financial assistance to help them transition to a more affordable place to live.

However, when foreclosure is the only option, as the investor the homes come to us. In these cases, we work to stabilize affected neighborhoods by caring for the properties we own and selling them for the highest possible price. This helps the communities to rebound and the families in those neighborhoods to rebuild lost equity more quickly.

Between 2009 and September 30‚ 2013‚ Fannie Mae refinanced 12 million mortgages‚ including loans refinanced through the Home Affordable Refinance Program (HARP). Borrowers who refinance through HARP have an average weekly savings of approximately $82.

This savings would more than pay for the average household’s weekly clothing costs or nearly half of a household’s weekly food consumption. We also provide funding to the market for quality‚ affordable rental housing.

It all adds up to more Americans having a good place to call home.