WASHINGTON: Mortgage giant Fannie Mae has detailed various community-building activities it did last year in a progress report, while also highlighting some of the CSR work it is undertaking this year.
The report comes three years after Fannie Mae ranked second-to-last behind fellow mortgage organization Freddie Mac in the annual Harris Interactive US Reputation survey, which measures the reputations of the 60 most visible companies in the country.
“Through the progress report, we will demonstrate how our commitment goes beyond profit [and] the positive effect of Fannie Mae as we work to help families buy, refinance, and rent homes,” Fannie Mae CCO Kelli Parsons told PRWeek, via email.
Last year, much of Fannie Mae's charitable work focused on foreclosure-prevention counseling for more than 215‚000 at-risk borrowers, helping more than 65,000 families avoid foreclosure. It also provided post-foreclosure counseling and transitional counseling for more than 6‚700 homeowners. Fannie Mae performed pre-purchase education for more than 38‚000 potential homebuyers‚ and post-purchase and financial literacy counseling for over 19‚000 people.
This year, Fannie Mae employees will participate in “7 Days to Serve,” an organization-wide engagement program that emphasizes seven days of community volunteerism. Through the initiative‚ employees can participate in coordinated volunteer service projects that have a housing theme.
“The idea is to provide an opportunity for employees who want to serve the community but haven't had a chance to do so,” said Maureen Davenport, VP of corporate communications at the organization. “Not everyone can take an hour to leave their desk to volunteer. [7 Days] creates a consolidated approach, where we give our 7,000 employees diverse options of hours and activities over a week period.”
The initiative will take place June 9-15.
Earlier this month, Fannie Mae reported net income of $7.6 billion in the fourth quarter of 2012 and $17.2 billion for the full year. It has paid back nearly $36 billion since the federal government rescued the organization in 2008.
Davenport added that this and the company's other CSR programs are not about bettering the company's reputation, instead they are motivated from “a personal place.”
Last year‚ 143 Fannie Mae employees donated 1‚015 volunteer hours to help homeowners avoid foreclosure through the Making Home Affordable Program‚ Know Your Options‚ and other outreach events. More than 1‚000 employees volunteered nearly 7‚500 hours to help prevent homelessness across the country.