This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Freddie Mac To Donate $1 Million To Support Hurricane Sandy Relief Efforts

MCLEAN, Va., Nov. 16, 2012 /PRNewswire/ -- Freddie Mac is helping ease the burden for families impacted by Hurricane Sandy by donating $1 million to nonprofits supporting relief efforts, including the American Red Cross. 

"We are helping families get the services they need and rebuild their lives in the wake of this disaster," said Freddie Mac Vice President Wendell Chambliss

The American Red Cross is receiving $250,000 of these funds to support disaster relief efforts.  Up to $750,000 is also going to local nonprofits in the disaster area to provide a variety of services such as housing assistance.   

Recipients include:

In addition to these donations, Freddie Mac has extended its full menu of disaster relief options to help affected borrowers in jurisdictions declared Major Disaster Areas and where federal Individual Assistance programs are available.  Freddie Mac's disaster relief policies provide mortgage servicers a number of ways to give homeowners relief — helping borrowers protect their credit ratings and financial interests in their homes.  Freddie Mac allows servicers to reduce or suspend mortgage payments on Freddie Mac-owned mortgages for up to 12 months for borrowers affected by disasters.  Freddie Mac has also directed its servicers to expedite the release of insurance proceeds and has placed a 90-day suspension on all eviction closings and foreclosure sales for those impacted by the storm, in presidentially declared disaster areas where individual assistance was granted.

Freddie Mac employees are supporting relief efforts by making donations to aid organizations through the Freddie Mac Foundation's matching gifts program.  The Foundation matches employee charitable contributions dollar for dollar; contributions to housing-related organizations are matched 2-to-1.  Employees are also taking part in a company drive for blankets and non-perishable food to help supply shelters and service organizations in the disaster region.  Freddie Mac is coordinating delivery of these donations with the Fairfax County Fire & Rescue Department and the New York City Rescue Mission. 

"As a company, we have a shared responsibility to provide relief to American homeowners who have been devastated by Sandy," said Hollis McLoughlin, Freddie Mac senior vice president for Corporate Communications and External Relations. "Beyond that, we want to provide our employees, who have asked how they can help, an opportunity to lend a hand to those in greater need."

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four homebuyers and is one of the largest sources of financing for multifamily housing. www.FreddieMac.com Twitter: @FreddieMac

SOURCE Freddie Mac

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,928.20 -142.20 -0.79%
S&P 500 2,089.46 -25.03 -1.18%
NASDAQ 4,939.3270 -77.6020 -1.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs