Using Fannie Mae's single-family servicing guidelines on disaster relief, lenders are to evaluate each individual case to determine the appropriate relief measures needed if borrowers are unable to make their mortgage payments. These may include suspending or reducing the borrower's mortgage payments for up to four months and/or offering mortgage loan repayment plans that may extend for up to 18 months. Such assistance is designed to meet the individual needs of single-family mortgage borrowers.

Fannie Mae's servicing guidelines also advise lenders to counsel borrowers on the availability of appropriate relief provisions, and to inform borrowers of disaster relief available from federal agencies. Payment relief may be available for single-family mortgages (including condominiums) serviced by Fannie Mae lenders in areas affected by the California wildfires.

Questions can be directed to the Fannie Mae Resource Center: 1-800-7FANNIE.

To view the News Release in its entirety, please click here.

About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, OH  and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 425 employees.  Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.