MBA Urges Mortgage Relief

The Mortgage Bankers Association is urging its members to offer mortgage relief to borrowers victimized by Hurricane Katrina.Citing the disaster relief policies of Fannie Mae, Freddie Mac, Ginnie Mae, the Federal Housing Administration, and the Department of Veterans Affairs, the MBA asked in a letter that its members "consider implementing these options for affected borrowers." The association also encouraged its members to "reach out to potentially affected customers to inform them of the relief options available to them and to assist them where possible." The MBA can be found online at http://www.mortgagebankers.org.