Fannie Extends Relief to Rita Victims

Fannie Mae has announced that it will extend the same mortgage relief provisions to victims of Hurricane Rita as it has in place for Hurricane Katrina.Donald M. Remy, a senior vice president and New Orleans native, is coordinating the company's response to the hurricanes. Under the relief measures, lenders make case-by-case assessments of the relief that is needed and may suspend mortgage payments for up to three months and reduce them for up to 18 months. Fannie Mae also announced a special volunteer policy to give employees more time and flexibility to help victims of the two hurricanes. Employees now have five additional days of volunteer leave that can be used exclusively to help with hurricane relief efforts, the government-sponsored enterprise said. Fannie Mae can be found online at http://www.fanniemae.com.