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Fannie offers homeowner tool--WaysHome

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WASHINGTON (1/10/11)--Fannie Mae has launched WaysHome, an interactive video to educate homeowners about their options to avoid foreclosure, motivate them to make the right decisions, and encourage them to seek help. Fannie Mae, a CUNA Strategic Services Provider, is a government-sponsored enterprise chartered by Congress with a mission to provide liquidity, stability and affordability to the U.S. housing and mortgage markets. WaysHome is part of Fannie Mae’s Know Your Options consumer initiative to help struggling homeowners. WaysHome was developed by Fannie Mae to educate distressed homeowners on the short- and long-term impact of their decisions. Through video reenactment, WaysHome allows homeowners to experience scenarios for avoiding foreclosure, including repayment plans, forbearances, modifications, deeds-in-lieu and short sales. The video is set in a neighborhood hurt by the foreclosure crisis. Actors play three neighborhood residents--each in financial distress. Homeowners choose one of the residents to play and, as their stories unfold, make important financial decisions for them and see how the consequences of these decisions play out. Fannie Mae provides tips, tools and links during the process, and users can go back and revise their decisions if their choices lead to a negative outcome. Most choices lead to an immediate consequence followed by a related teaching point.

CU 24 partners with Palmetto Coop for ATM POS

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TALLAHASSEE, Fla. (1/10/11)--In a partnership of credit union service organizations (CUSOs), Credit Union 24, has joined with Palmetto Cooperative Services to provide credit union-owned point-of-sale (POS) and surcharge-free ATM services to credit unions referred to the network through Palmetto. More than 400 participating Palmetto Cooperative Services credit unions will have direct access to Credit Union 24’s ATM and POS services if they join the network. Palmetto Cooperative Services, Columbia, S.C., provides item processing and statement processing for more than 400 credit unions in 20 states. Credit Union 24, Tallahassee, Fla., has hundreds of thousands of POS locations at national retailers and local merchants, and more than 100,000 ATM terminals nationwide. “Our partnership with Palmetto Cooperative Services evolved through our mutual recognition of how, together, we provide a holistic offering of products and services that address a majority of credit unions’ needs,” said Jim Park, president/CEO of Credit Union 24.