Fannie Mae and Freddie Mac Stocks Surge Amid Disaster Relief Efforts for Homeowners

Written by Felicia W. Guo

January 17, 2025

On Friday, stocks for both the Federal Home Loan Mortgage Corporation (FMCC) and the Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, saw impressive gains, with FMCC rising nearly 23% and FNMA increasing by 23.5%. These significant stock price jumps come amidst heightened attention to Fannie Mae’s disaster relief programs as homeowners and renters, particularly in Southern California, continue to grapple with the aftermath of devastating wildfires.

Fannie Mae is actively reminding those affected by natural disasters, including the ongoing wildfires in Southern California, about the assistance available for mortgage relief. The Palisades Fire, which has burned over 23,000 acres and destroyed more than 10,000 structures, and the Eaton Fire, which has ravaged 14,000 acres and damaged around 7,000 homes, have left thousands in need of immediate support. Tragically, at least 24 lives have been lost in the fires.

To assist homeowners during these challenging times, Fannie Mae offers a variety of mortgage relief options. Homeowners affected by disasters can request forbearance, which allows them to pause or reduce mortgage payments for up to 12 months without incurring late fees or facing foreclosure. If homeowners are unable to be contacted directly, mortgage servicers can automatically offer a 90-day forbearance if they believe the property was impacted by the disaster. Following forbearance, options like Disaster Payment Deferral and Fannie Mae Flex Modification can help homeowners avoid a lump-sum payment and get back on track with their mortgages.

Fannie Mae encourages homeowners and renters to reach out for disaster recovery counseling by calling 855-HERE2HELP (855-437-3243) or visiting their website for more information on available resources. With the wildfires continuing to cause widespread damage, these relief measures are crucial for families struggling to recover and rebuild their lives.

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