Improving Our Mortgage Help Model

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FM Commentary

Improving Our Mortgage Help Model

Leslie Peeler

Fannie Mae opened its first Mortgage Help Center (MHC) in March 2010 in partnership with Neighborhood Housing Services of South Florida (NHSSF) to serve distressed homeowners in the Miami area. During its first three months of operation, the Center helped more than 700 area homeowners who were struggling to pay their mortgage.

This highly successful model was replicated over the next year-and-a-half in additional cities hardest hit by the housing crisis, like Philadelphia, Los Angeles, and Phoenix. To provide coverage in other metropolitan areas like Denver, Seattle, and Prince George’s County in Maryland, Fannie Mae partnered with community-based nonprofit housing agencies, creating our Mortgage Help Network.

The Mortgage Help Centers and Network partners have contributed to our overall foreclosure prevention strategy, which has helped 1.3 million families avoid foreclosure through home retention solutions and workout solutions since 2009.

Reviewing our Model
In 2013, the Centers remain busy, but foot traffic is light. That’s because most homeowners seeking assistance — more than 90 percent — are helped over the telephone.

To align with this trend, we’re moving to a new MHC operating model that provides telephone and email support through Fannie Mae staffed regional call centers, while our nonprofit housing partners continue to provide face-to-face customer support on our behalf in the communities they serve.

As we implement this updated model, our MHC partner organizations will return to serving Fannie Mae homeowners through their pre-existing offices and the Mortgage Help Center locations will close.

We will continue to support our local housing partners in the new Mortgage Help Center Network with product training and proactively reach out to struggling homeowners through mailings, telephone calls, and KnowYourOptions.com.

Unveiling the Future

As we move toward this new model, we’d like to acknowledge and thank the housing counseling agencies that we have worked with over the past years. Together, we’ve assisted struggling homeowners from coast to coast, helping them to avoid foreclosure and stay in their homes or gracefully exit their homes while avoiding foreclosure. We look forward to our continued partnership with them in helping homeowners to avoid foreclosure.

We’re excited that our new MHC model will offer homeowners the same high levels of customer care and convenience that they receive today — a win for communities, the counseling industry, and taxpayers.

Leslie Peeler
Senior Vice President, National Servicing Organization

August 29, 2013

The views expressed in these articles reflect the personal views of the authors, and do not necessarily reflect the views or policies of any other person, including Fannie Mae or its Conservator. Any figures or estimates included in an article are solely the responsibility of the author.

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