By ONME News
SACRAMENTO, CALIF. – The California Housing Finance Agency (CalHFA) Board of Directors convened this week and unanimously authorized the strategic utilization of $138 million in National Mortgage Settlement (NMS) funds. This significant financial allocation is aimed at providing essential mortgage assistance and a range of supportive services for homeowners who have been adversely affected by the devastating fires in the Los Angeles area. These fires have not only caused widespread destruction but have also left many families struggling to maintain their homes and financial stability in the aftermath.
State of California Treasurer Fiona Ma, who is an active member of the CalHFA board, expressed her strong support for the resolution, emphasizing the critical importance of this funding in helping affected homeowners navigate the challenges they face.
“Providing assistance to those in need is an essential part of our duty as California officials," said Ma. "For homeowners starting the difficult task of rebuilding their homes and their lives, these funds will provide needed assistance and relief. While our focus now is on the Los Angeles Area wildfires, this program is flexible enough to help any Californian homeowner affected by disasters. I’d like to thank Governor Newsom for his leadership navigating these disasters, and CalHFA staff and my fellow CalHFA board members for their swift action pulling this program together and for quickly approving.”
In fact, on Jan. 18, Governor Newsom announced that the state has worked with major lenders to offer mortgage relief to LA firestorm victims. By Jan. 30, the Department of Financial Protection and Innovation (DFPI) had confirmed additional commitments from more than 400 financial institutions.
The lenders have committed to offering:
90-day mortgage payment forbearance periods, streamlined processes for requesting initial relief without submitting forms or documents, payment options that do not require immediate repayment of unpaid amounts (i.e., no balloon payments) at the end of the forbearance period, and the opportunity for additional relief.
Relief from mortgage-related late fees accruing during the forbearance period for 90 days.
Protection from new foreclosures or evictions for at least 60 days.
Institutions will not report late payments of forborne amounts to credit agencies.
The relief is available to qualified residents who are customers of these institutions in Los Angeles County.
Borrowers must contact their mortgage servicer to get relief
If you are having trouble making mortgage payments, always reach out to your mortgage lender or servicer to request relief, even if it is not listed below.
The following federally chartered institutions have committed to offering relief: Bank of America, Citi, JPMorgan Chase, U.S. Bank, Wells Fargo, and BMO Bank.
In addition, more than 400 institutions listed below have committed* to offering relief.
*Please note, some mortgages, even those lent or serviced by a listed institution, may be contractually barred from providing the offered relief. You can find resources for other mortgage relief options in the Additional Mortgage Resources section below.
Lenders & Servicers Committed to Offering Relief
Download the list (Excel) | Last updated 2/19/2025
DFPI licensees: Please email CAFire.Response@dfpi.ca.gov to join the relief effort.
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