California Gov. Gavin Newsom (D) announced on Saturday commitments from five major banks to offer homeowners affected by the wildfires a 90-day grace period on their mortgage payments. The financial institutions agreed not to report these payments to credit reporting agencies. They are also offering a 90-day waiver of mortgage-related late fees and protection from new foreclosures or evictions for at least 60 days for customers whose structures were damaged in the fires. The government secured the commitments from Bank of America, Citi, JPMorgan Chase, U.S. Bank and Wells Fargo. “After so much trauma, we hope this deal will provide thousands of survivors a measure of relief. These financial protections will enable residents to concentrate on taking care of their immediate needs rather than worrying about paying their mortgage bills. I thank each of the financial institutions that are offering this help for Californians recovering from this catastrophic firestorm,” Newsom said in a statement, announcing the grace period. Borrowers must contact their mortgage servicer for the relief. The agreement applies to customers in the following Los Angeles County ZIP codes: 90019, 90041, 90049, 90066, 90265, 90272, 90290, 90402, 91001, 91104, 91106, 91107 and 93536. The announcement comes as the wildfires have decimated much of the Los Angeles area. The Palisades fire, the largest, was 52 percent contained as of Sunday evening. The Eaton fire was 81 percent contained.