(PRNewswire) Huntington Mortgage Group and Fannie Mae have renewed a commitment to underserved markets by signing a new, three-year, $1.5 billion Housing and Community Development alliance. The commitment will help plant the seeds of homeownership, focusing on the mortgage needs of thousands of families, including low- and moderate- income families, minority families, new immigrants, women-headed households, people with disabilities and other consumers in underserved markets.

Through the Housing and Community Development alliance, Huntington will continue to work to expand homeownership opportunities using customized services and tools to help prospective homebuyers obtain affordable mortgage financing. Additionally, Huntington will continue to develop multicultural marketing strategies to reach underserved markets with affordable lending and other targeted products and services, including Huntington's Welcome Home product. Fannie Mae will purchase the eligible mortgage loans originated under this alliance.

"We are very pleased that we have been able to meet the needs of consumers in underserved markets throughout our footprint," said Thomas Finnegan, president of Huntington Mortgage Group. "Our partnership with Fannie Mae allows us to make homeownership a reality for those who may not have thought it was possible."

The new $1.5 billion alliance builds upon a previous three-year, $1 billion commitment signed in July 2001. Because of the concerted focus on multicultural and underserved loans, that initial commitment was surpassed 15 months ahead of schedule and by more than $500 million.

"We are proud to work with Huntington Mortgage Group to help more families and individuals on the path to homeownership," said Cynthia Flaherty, director of Fannie Mae's Central and Southern Ohio Partnership Office. "This multibillion dollar lending alliance is a positive step to help close the homeownership gaps that exist today."

To apply for a mortgage, call Huntington Mortgage Group at 800-LOAN-US - 1 (800-562-6871) between 8 a.m. and 5 p.m. EST.