The Mortgage Bankers Association estimates that up to 360,000 real estate loans could be directly or indirectly impacted by Hurricane Katrina and are valued at up to $48 billion.

The mortgage banking trade group and its members encourage victims of Hurricane Katrina to directly contact the mortgage company that they regularly make mortgage loan payments to as soon as possible.

While policies may differ from company to company, most mortgage bankers are offering extended grace periods and are postponing any foreclosure action, MBA said. This means that any borrower who lives within the ZIP codes published by FEMA as being federal disaster areas will not – during the lender’s grace period – be charged late fees nor have late payments reported to credit agencies, which can negatively impact their credit scores.

MBA and its members urge consumers to call their loan servicer to confirm the length of the grace period and to discuss additional or long-term solutions. In addition, mortgage bankers will assist borrowers in making contact with their hazard and flood insurance companies. Given the expected length of time it may take for those hardest hit by the hurricane to recover, mortgage bankers will re-evaluate their policies periodically to determine their appropriateness.

Most lenders have toll-free phone numbers for consumers to call. Here is a list of major mortgage servicers that are servicing loans in the affected areas:


Customer Service: 1-800-783-8900

Aurora Loan Services

Customer Service Department: 1-800-550-0508

Insurance Claims Center: 1-800-723-6578

Bank of America

Special Line for Customers Impacted by Hurricane Katrina: 1-800-831-5586

Chase Home Finance

Customer Service: 1-800-848-9136

Chevy Chase Bank, FSB

Customer Service: 800-933-9100

Colonial Savings, F.A.

Customer Service: 1-800-937-6002

Countrywide Home Loans

Customer Service: 1-800-669-6607

EMC Mortgage

Customer Service: 1-800-723-3004

EverHome Mortgage

Customer Service: 1-800-669-9721

Financial Freedom Senior Funding Corporation

Customer Service: 1-800-441-4428

First Horizon National Corporation

Customer Relations: 1-800-364-7662

Insurance Processing Center/Loss Draft Dept: 1-866-497-0530

IndyMac Bank

Customer Service: 1-800-781-7399.

Insurance Processing Center/Loss Draft Dept: 1-888-680-6808

Litton Loan Servicing LP

Customer Service: 1-800-247-9727

Midland Mortgage Co.

Current Loans: 1-800-654-4566

National City Mortgage Co.

Customer Service: 1-800-822-5626

Option One Mortgage

Customer Service: 1-800-648-9605

PHH Mortgage (formerly Cendant Mortgage)

Customer Service: 1-888-882-1855.


Customer Service: 1-800-634-7928

Washington Mutual

Special Line for Customers Impacted by Hurricane Katrina: 1-800-472-1254

Home Mortgages Customer Service: 1-866-926-8937

Wells Fargo

Wells Fargo Home Mortgage – 1-888-818-9147


Send tips or a Letter to the Editor to or call (510) 658-9252, ext. 133.

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