Chase Enhances Construction Rehab Mortgages for South Louisiana Borrowers.

NEW ORLEANS -- Chase today announced enhancements that will make construction rehabilitation mortgages easier and faster for South Louisiana homeowners to repair damage from Hurricanes Katrina and Rita.

"We are making these improvements to help Gulf Coast residents affected by the hurricanes," said Marie Ruppel, head of Chase's mortgage office in New Orleans. "Each enhancement is designed to streamline the process and help homeowners rebuild more quickly."

The construction rehab loan features include:

--Allowing borrowers to serve as their own general contractor, under certain conditions

--Providing loans for one- and two-unit investment properties

--Incorporating cost-saving initiatives, such as providing up to 95% financing on primary residences and 75% on investment properties

--Adding flexibility during the underwriting process, since documentation may have been lost or credit history weakened as a result of the storms

The construction rehab mortgage is available to interested homeowners in the Federal Emergency Management Administration (FEMA)-declared disaster area.

For more information, interested borrowers should contact Chase's New Orleans mortgage office at [phone] or go online to www.chase.com/gulfcoast for more information.

Chase originates more than $150 billion in mortgages and home equity annually, and services a portfolio of more than $500 billion in residential mortgage and home equity outstanding balances. Its parent company, JPMorgan Chase & Co. (NYSE:JPM), is a leading global financial services firm with assets of $1.2 trillion and operations in more than 50 countries. Information about the firm is available at www.jpmorganchase.com.