Fannie Mae Home Counselor Online(TM) Launches Tools in Spanish Free Web-Based Technology Tool Helps Housing Counseling Agencies and Their Partners Increase Capacity to Help Hispanic Borrowers Achieve Homeownership and Help Boost the U.S. Hispanic Homeownership Rate WASHINGTON, June 10 /PRNewswire/ -- Fannie Mae, the nation's largest source of financing for home mortgages, today launched Home Counselor Online(TM) tools in Spanish to help expand homeownership among Hispanics, who have previously been underserved by the housing finance system. The free, web-based technology tool, which will be showcased at this year's National Council for La Raza conference in Phoenix, Arizona, will help counseling agencies, non-profit groups and other entities guide potential homeowners through the mortgage process via user-friendly counseling support functions. Home Counselor Online also allows lenders to track progress of potential borrowers on the path to homeownership. Home Counselor Online is part of Fannie Mae's efforts to help housing partners modernize or transform housing counseling practices, in addition to moving the minority homeownership rate. With the launch of its English version on November 2001, more than 1,157 counseling agencies and lender offices have set up this technology tool, with over 103,221 clients served by them. The introduction of Home Counselor Online with tools in Spanish is part of Fannie Mae's expansion of the American Dream Commitment(R); a pledge to help over 6 million families, including 1.8 million minority families, become homeowners. This affordable housing plan will expand access to homeownership for millions of first-time home buyers; help raise the minority homeownership rate to at least 55 percent; make homeownership and rental housing a success for millions of families at risk of losing their homes; and expand the supply of affordable housing where it is needed most over the next decade. The company's ultimate goal is to eliminate differences in minority and non- minority homeownership rates. Home Counselor Online's tools in Spanish will help counseling agencies, non-profit groups, and other entities that provide home buyer counseling services and have bilingual representatives increase their efficiency with the automation of counseling tasks and processes. The agencies may establish mutually beneficial relationships with lenders, who can refer borrowers who are not quite ready for homeownership to counseling services. Lenders also may benefit by receiving referrals of ready, qualified borrowers from counseling agencies. "I have found Home Counselor Online to be a great organizational case management tool for tracking where my clients are in the home buying process, their goals, and accomplishments," said Laura Hagen, a housing specialist with County Corp, the first housing and economic development nonprofit in Ohio. "Home Counselor Online's easily managed summary reports can be tailored for distribution to clients, the case file, or for general reporting. It has kept me organized, and my clients and I know where we have been and where we're going." Some of the features of Home Counselor Online include the ability to do the following: * View cases, appointments, and reminders all from a personal home page; * Quickly determine a client's financial readiness for homeownership using the Affordability Analyzer; * Assess a borrower's eligibility for a variety of loan products, including low- and no-down payment mortgage loans; * Pull credit report data automatically into client files; and * Develop "Homeownership Action Plans" to identify and overcome any potential barriers to homeownership. The technology also highlights tools to assist Spanish-speaking families, and will aid in creating direct electronic links between counselors and lenders to ensure the smooth transition from counseling to an affordable mortgage. For more information on Home Counselor Online or to register, call 1-800- 7FANNIE (1-800-732-6643) Monday through Friday from 9:00 a.m. to 5:00 p.m. ET, or visit http://www.efanniemae.com/homecounselor. Fannie Mae is a New York Stock Exchange company and the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is the nation's largest source of financing for home mortgages. Fannie Mae is working to shrink the nation's "homeownership gaps" through a $2 trillion "American Dream Commitment" to increase homeownership rates and serve 18 million targeted American families by the end of the decade. Since 1968, Fannie Mae has provided $5.9 trillion of mortgage financing for 60 million families. More information about Fannie Mae can be found on the Internet at http://www.fanniemae.com/. American Dream Commitment(R) is a registered Fannie Mae. Unauthorized use of this mark is prohibited. Home Counselor Online(TM) is a trade mark of Fannie Mae. Unauthorized use of this mark is prohibited. Style Usage: Fannie Mae's Board of Directors has authorized the company to operate as "Fannie Mae," and the company's stock is now listed on the NYSE as "FNM." In order to facilitate clarity and avoid confusion, news organizations are asked to refer to the company exclusively as "Fannie Mae." DATASOURCE: Fannie Mae CONTACT: Spanish: Cristina Miranda, +1-202-752-5603, or English: Jon Searles, +1-202-752-2581, both of Fannie Mae Web site: http://www.fanniemae.com/ http://www.efanniemae.com/homecounselor Company News On-Call: http://www.prnewswire.com/comp/305450.html

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