Anthrax Causes Few Delays.(in mail sent to mortgage companies)

The anthrax threat that closed major postal facilities in Washington, D.C. and New Jersey in November has not caused widespread delays in the receipt of mortgage payments, according to several leading lenders.

A spokesperson for J.P. Morgan Chase, parent of Chase Manhattan Mortgage Corp., said the company has been tracking mail patterns since Sept. 11. The mortgage unit, which is headquartered in Edison, N.J., has not noticed any change in the time span between postmark dates and receipt of bill payments since the terrorist attacks of Sept. 11 or during the weeks following the anthrax scare. But she acknowledged that some mail might have been affected.

"If we determine there are any issues affecting mail service in designated areas, we will work with customers and consider waiving late fees where appropriate," said Catherine Keary, the spokesperson.

Chase Manhattan, with $427 billion in mortgage receivables, is the nation's third largest servicer.

Likewise, Washington Mutual Home Loans, the nation's largest mortgage servicer with $484 billion in receivables, has not encountered any widespread problem with mail delivery to date. Most of the postal facilities affected by the scare are located on or near the East Coast, but many other facilities nationwide were closed for periods of time due to false alarms about possible anthrax contamination.

Kevin Horn, a spokesperson for Washington Mutual, said that the anthrax scare has had no impact on Washington Mutual's outgoing mail and the company has not noticed any widespread impact on the delivery date of incoming payments.

However, he said there have been some instances where payments have been delayed, primarily affecting borrowers who live on the East Coast. He said ...