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HOUSE SPEAKER NEWT GINGRICH JOINS THE FANNIE MAE FOUNDATION TO CELEBRATE GRAND OPENING OF COBB HOUSING'S NEW HEADQUARTERS AND PRESENT A $15,000 FOUNDATION GRANT

MARIETTA, Ga., April 2 /PRNewswire/ -- House Speaker Newt Gingrich (R-GA) today joined representatives from the Fannie Mae Foundation, the Atlanta Neighborhood Development Partnership (ANDP), and area lenders and housing officials for the grand opening of the new Cobb Housing, Inc. headquarters. At the ceremony, the Fannie Mae Foundation awarded Cobb Housing a $15,000 grant to support its housing counseling services. Speaker Gingrich, who participated in the ceremony, applauded Cobb Housing's efforts to improve affordable housing opportunities in Cobb County.

"To help people achieve the American dream of homeownership, we need to prepare people to handle the enormous responsibility of owning their own home," said Speaker Gingrich. "I commend Cobb Housing and the Fannie Mae Foundation for enhancing housing counseling programs that can better prepare families for this responsibility."

Cobb Housing was established in 1992 to provide housing counseling, economic, and real estate development services to low- and moderate- income residents of Cobb County. In 1995, the Fannie Mae Foundation provided a $10,000 grant to Cobb Housing, Inc. The total two-year grant of $25,000 is being used by Cobb Housing to support a "Pre & Post" purchase housing counseling program, including an upgrade in computer software to streamline home-buyer education efforts.

"We are delighted to be able to recognize successful community and housing efforts such as those provided by Cobb Housing," said Glenn T. Austin, Jr., senior vice president of Fannie Mae's Atlanta-based Southeastern Regional Office. "Cobb Housing helps the many local families who dream of homeownership, but need some additional help to make that dream a reality."

Doug Manning, executive director of Cobb Housing, Inc., said the new headquarters will allow his organization to substantially increase its housing counseling efforts. "I'm proud that Speaker Gingrich and the Fannie Mae Foundation have recognized our success in creating homeownership opportunities for low- and moderate-income families in Cobb County."

Hattie B. Dorsey, ANDP president and CEO, praised Cobb Housing and the Fannie Mae Foundation for their work in addressing affordable housing issues in suburban Cobb County. "The affordable housing issue is not an issue just for urban areas," she said. "Affordable housing is an issue for all communities." ANDP supports Cobb Housing's work through grants and loans.

Individuals who live or work in Cobb County are eligible to
participate in Cobb Housing programs. For more information consumers should contact Cobb Housing at 770-429-4400.


The Fannie Mae Foundation supports national and local nonprofit organizations working to provide decent and affordable housing in communities throughout the United States. To promote homeownership, the Foundation also sponsors public service outreach efforts, including consumer education and home-buying fairs. The Foundation's sole source of funding is Fannie Mae, a private corporation with a congressional charter and a public mission to increase the availability and affordability of housing for low-, moderate-, and middle-income Americans.

For a menu of Fannie Mae news releases available by fax 24 hours (no charge) or to retrieve a specific release, please call 1-800-758-5804, ext. 305450, or access the address http://www.prnewswire.com on the Internet.
 -0- 4/2/96


/CONTACT: Tim Carlsgaard of Fannie Mae, 404-398-6259/

(FNM)

CO: Fannie Mae; Fannie Mae Foundation ST: Georgia IN: FIN SU:

DC -- DCTU012 -- 2546 04/02/96 11:01 EST
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Publication:PR Newswire
Date:Apr 2, 1996
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