Industry News

Real estate loan providers aid hurricane victims

Providers set up hotlines, donate to Red Cross

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Throughout the mortgage industry, providers are taking action to help people affected by the devastation of Hurricane Katrina. Countrywide Financial Corp. is offering a toll-free hotline, 1-800-669-6607, for hurricane victims with questions and requests related to their existing Countrywide mortgages. Countrywide said it would work with every borrower who has lost his or her home and encourages them to call the hotline as soon as possible. The Calabasas, Calif.-based company said Friday it does not yet have a full assessment of its 24 branches in the affected areas and is placing a priority on the safety and security of its employees. At this point, the company said, 15 branches are closed. Countrywide said it has established contact with most employees in the impacted areas, and both the company and its employees are offering shelter and financial assistance to them. Employees in these communities will continue to receive their salaries and benefits. Additionally, the Countrywi...