"Our convention can do a real service by offering our industry a central point to come together to grapple with the many business implications of our recent national tragedy," said Jonathan Kempner, MBA chief operating officer. "Many of our member companies are now engaged in defining forbearance programs, sponsoring or joining disaster relief efforts in their own communities and trying to identify how they can provide the most valuable assistance to their customers in this tough time."

In recent days, a wave of insurance companies have announced hundreds of millions of dollars in expected losses, as the cost of the damage in New York from the destruction of the World Trade Center twin continues to escalate. Mortgage lenders such as Fannie Mae and Freddie Mac have responded to requests by the Department of Housing and Urban Development to provide relief to consumers affected by the attacks. Additionally, Fannie, Freddie and MBA are a part of a larger alliance of associations and mortgage industry players committing $25 million in relief assistance.