California HARP Lender: 888-409-4881
Fannie Mae (http://www.fanniemae.com) is a government-sponsored enterprise (GSE) chartered by Congress with a mission to provide liquidity, stability and affordability to the U.S. housing and mortgage markets.
Fannie Mae was established as a federal agency in 1938, and was chartered by Congress in 1968 as a private shareholder-owned company. On September 6, 2008, Director James Lockhart of the Federal Housing Finance Agency (FHFA) appointed FHFA as conservator of Fannie Mae. In September 2008, we also entered into an agreement with the U.S. Department of Treasury that was most recently amended in December 2009. Under the agreement, Treasury will provide us with capital as needed to correct any net worth deficiencies that we record in any quarter through 2012. The agreement is intended to ensure that we are able to continue providing liquidity and stability to the housing and mortgage markets.
Fannie Mae operates in the U.S. secondary mortgage market. Rather than making home loans directly to consumers, we work with mortgage bankers, brokers and other primary mortgage market partners to help ensure they have funds to lend to home buyers at affordable rates. We fund our mortgage investments primarily by issuing debt securities in the domestic and international capital markets.
Fannie Mae has three lines of business are Single-Family, Multifamily and Capital Markets that provide services and products to mortgage companies and a broad range of housing partners. Together, these businesses contribute to the company’s chartered mission to increase the amount of funds available in order to make homeownership and rental housing more available and affordable.
HARP is a government sponsored initiative updated in October of 2011 by President Obama in response to the needs of homeowners suffering during the mortgage crisis.
The Fannie Mae Loan Lookup enables mortgage borrowers to quickly determine if Fannie Mae owns their loan by providing a street address, unit, city, state, and ZIP code.
If you are unable to determine if Fannie Mae owns your loan, your lender has access to tools that will let them verify whether Fannie Mae is the investor on a property at a specific address. However, this tool does not list if a loan is eligible for HARP. This process will be part of the HARP Application that your lender will perform.
If Fannie Mae owns your loan, you may be eligible for programs designed to make your mortgage more affordable -like the Home Affordable Refinance Program (HARP) or the Home Affordable Modification Program (HAMP).
If Fannie Mae does not list your loan in their system, click over the Freddie Mac Loan Look up page to check there as well.
CLICK HERE to submit a contact request online and we will have one licensed California HARP Approval Network member connect with you asap. You can also feel free to Call us directly @ 888-409-4881 for any questions about HARP loans.