Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON – Fannie Mae plans to provide 1,500 single-family properties from its inventory of Real Estate Owned (REO) for temporary housing for individuals and families displaced by Hurricane Katrina. The company will initially provide the properties rent-free for up to 18 months. The properties are located in states with the highest concentration of evacuees including Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Oklahoma, Tennessee, and Texas. Fannie Mae said it will be discussing how best to administer the initiative with HUD and FEMA. In addition to Fannie Mae’s response, the Fannie Mae Foundation has donated $1 million to relief efforts through a $500,000 contribution to the American Red Cross, and an additional $500,000 contribution for medium- and long-term efforts supported by the housing industry and housing organizations to help impacted communities in their recovery efforts. Fannie Mae President/CEO Daniel Mudd said the company “continues to assess the situation and are working with our regulators, OFHEO and HUD, as well as industry leaders, lenders and services, and our partners in the impacted areas to determine ways we can be of assistance.”

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.