The California Mortgage Bankers Association (CMBA) testified on March 20 before the California Assembly Banking & Finance Committee during an oversight hearing on California Assembly Bill 238, which focuses on the effectiveness of mortgage forbearance and the broader challenges facing homeowners affected by the state’s January 2025 wildfires.

AB 238 provides up to one year of mortgage forbearance for homeowners facing financial hardship from California wildfires, specifically those affected by the January 2025 disasters. It allows borrowers to pause or reduce payments in 90-day increments.

The Eaton Fire in Altadena and the Palisades Fire in Pacific Palisades ravaged details ⇒

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