Gov. Gavin Newsom announced Saturday that five of America’s biggest financial institutions will be providing mortgage relief to residents affected by the Southern California wildfires.  

Newsom’s office announced that the commitments were made by Bank of America, Citi, JPMorgan Chase, U.S. Bank and Wells Fargo.  

The institutions are offering impacted homeowners a 90-day forbearance of their mortgage payments without reporting those payments to credit reporting agencies in addition to other wildfire-related relief.  

“After so much trauma, we hope this deal will provide thousands of survivors with a measure of relief,” Newsom said in a release issued Saturday morning. “These financial protections will enable residents to concentrate on taking care of their immediate needs rather than worrying about paying their mortgage bills.” 

In addition to the forbearance periods, the lenders are also offering streamlined processes for requesting initial relief without submitting forms or documents, payment options that do not require immediate repayment at the end of the forbearance period. 

Relief from mortgage-related late fees accruing during the forbearance period is also being offered, as is protection from new foreclosures or evictions for at least 60 days. 

Institutions will also not report late payments of forborne amounts to credit agencies. 

The relief is available to qualified residents who are customers of the five institutions who live in the following L.A. County ZIP codes: 90019, 90041, 90049, 90066, 90265, 90272, 90290, 90402, 91001, 91104, 91106, 91107 and 93536. 

Borrowers must contact their mortgage servicer to obtain relief. 

More information can be found here.