Fannie Mae Holds 21st Annual Help the Homeless Walkathon

"We are facing one of the most serious housing and economic crises in our lifetime. In trying economic times like these, more and more Americans face the risk of becoming homeless. Through Help the Homeless, we can respond as a community, raise awareness about the issue, and directly support efforts to assist those in need," said Herb Allison, President and Chief Executive Officer, Fannie Mae.

Through its Help the Homeless program, Fannie Mae today also announced a grant of $100,000 to the United Way of the National Capital Area (UWNCA) as part of a rescue fund for families threatened or displaced by foreclosure. The rescue fund will be used to assist families avoid foreclosure where possible and to help owners and renters identify alternative housing when needed.

"With over 12,000 people homeless on any given night in the D.C. metropolitan area and with so many others at-risk of becoming homeless in light of the foreclosure crisis, it has never been more important to find new ways to serve the most vulnerable citizens in our community. We're pleased to be part of the United Way's effort to help mitigate the impact of foreclosure on our community," said Stacey D. Stewart, Senior Vice President of the Office of Community and Charitable Giving, Fannie Mae.

"Affordable housing is a critical issue that has become a crisis in the DC Metro Area, and foreclosures have been the eye of the storm for more than a year now. Fannie Mae's support will provide a range of prevention and assistance services to help families stay in their homes and to help neighborhoods recover and thrive," said Angela R. Woods, Interim CEO of UWNCA.

This year, in addition to the thousands of walkers on the National Mall, another 70,000 residents are expected to take part in the more than 670 mini-walks sponsored by schools, community centers and places of worship.

Fannie Mae (NYSE: FNM) exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. In 2008, we mark our 70th year of service to America's housing market. Our job is to help those who house America.

SOURCE Fannie Mae

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Tags: ,FIN,RLT,CSR,NPT,DC-FannieMae-homeless

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