Las Vegas, Nev. – U.S. Senators Catherine Cortez Masto (D-Nev.) and Dean Heller (R-Nev.) sent a letter to leaders of the mortgage industry requesting that they provide relief and financial assistance to victims of the mass shooting that occurred at the Route 91 Harvest music festival in Las Vegas on October 1st, 2017.
In the wake of the deadliest mass shooting in modern American history, hundreds of families are now burdened with funeral costs, medical bills, and emotional trauma that may temporarily make it more difficult for them to meet their financial commitments.
“We write to you today to ask that your organizations do whatever they can to ease the burdens that may be faced by victims, survivors, and their families at this difficult time or in the future,” the senators wrote. “Importantly, should the issue arise, we would ask that you not initiate or finalize any legal foreclosure proceedings that would lead to a victim or their family’s eviction during their recovery.”
The senators continued, “If victims and survivors have difficulty with future mortgage or other loan payments, we ask that you would work with those individuals to offer tailored solutions, which could include forbearance plans and loan modifications, to help ensure that their financial wellbeing is taken care of. Finally, we ask that you streamline documentation requests and paperwork burdens for any impacted borrowers and dedicate additional staff to process any requests from victims and their families.”
The letter was sent to Wells Fargo, JPMorgan Chase, Bank of America, Nationstar Mortgage, Ocwen Financial Corporation, Citi, US Bank Home Mortgage, Walter Investment Management, PHH Mortgage, and Quicken Loans, Inc. Additionally, the letter was sent to the Federal Housing Finance Agency, Federal Housing Administration, Fannie Mae and Freddie Mac.
The full text of the letter can be found below:
To Leaders in the Mortgage Industry:
As leaders in the mortgage industry, we ask that you do everything in your power to assist victims and survivors of the senseless mass shooting which occurred on October 1, 2017, in Las Vegas. While victims and survivors face a long road to recovery in terms of healing their physical and psychological scars, they may also encounter substantial financial burdens that compound their tremendous stress.
With that in mind, we write to you today to ask that your organizations do whatever they can to ease the burdens that may be faced by victims, survivors, and their families at this difficult time or in the future. Importantly, should the issue arise, we would ask that you not initiate or finalize any legal foreclosure proceedings that would lead to a victim or their family’s eviction during their recovery.
If victims and survivors have difficulty with future mortgage or other loan payments, we ask that you would work with those individuals to offer tailored solutions, which could include forbearance plans and loan modifications, to help ensure that their financial wellbeing is taken care of. Finally, we ask that you streamline documentation requests and paperwork burdens for any impacted borrowers and dedicate additional staff to process any requests from victims and their families.
Individuals recovering from the events of October 1st should not have to worry about evictions, late fees, negative credit reports, or any other financial burdens that may exacerbate the tremendous stress caused by this senseless tragedy. We appreciate your attention to these matters and your support for the wider Las Vegas community.
Sincerely,
Catherine Cortez Masto Dean Heller
United States Senator United States Senator