In business: Financial relief sought for victims of Vegas massacre

U.S. Sen. Catherine Cortez Masto, D-Nevada, and Dean Heller, R-Nevada, 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.

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, a news release said.

“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 letter also said.

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 senators said, “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 well-being 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.”