FOR IMMEDIATE RELEASE May 9, 2008	Contact: Michele Anapol (202) 466-2121 x226 manapol@nhc.org

Statement from the National Housing Conference

Prepared in Response to Fannie Mae’s “Keys to Recovery” Initiatives Focused on Helping Struggling Borrowers and Communities

“The National Housing Conference commends Fannie Mae for taking a leadership role in helping – through its new ‘Keys to Recovery’ initiatives – to aid struggling borrowers and communities affected by the housing downturn. NHC, like Fannie Mae, also believes that providing the right combination of stability and affordability, as well as liquidity, that ultimately does not get in the way of future homeownership opportunities, will result in a strong and robust housing recovery.

By purchasing and refinancing the loans of qualified homeowners at-risk for foreclosure to an affordable level, while at the same time helping to purchase foreclosed homes in hard-hit neighborhoods, Fannie Mae is taking the additional steps necessary to help further stabilize both families and communities nationwide.

Through these latest efforts Fannie Mae is building on a track record of support provided by the company’s existing HomeStay program announced last year.  To date, HomeStay has provided millions of grant dollars supporting foreclosure prevention counseling and workshops and has also provided wide-ranging loans that are allowing at-risk borrowers to catch up on their delinquent mortgage payments.”

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