Jan 13 (Reuters) - JPMorgan Chase ( JPM ) is easing

mortgage repayment conditions for customers affected by the Los

Angeles wildfires, extending some relief to residents grappling

with one of the most destructive natural disasters in the city's

history.

Chase Home Lending is providing disaster forbearance for

mortgage customers affected by the wildfires, parent firm

JPMorgan ( JPM ) said on Monday. Forbearance allows borrowers to

temporarily pause repayments on their loans or pay lower

amounts.

Borrowers often turn to banks for such aid to help ease the

cost of rebuilding. However, the strain on the industry's

profitability from the unpaid loans can also prompt lenders to

retreat from markets prone to natural catastrophes.

"The Los Angeles wildfires underscore the urgent need

for financial institutions to prioritize climate risk

management," said Laurent Birade, banking industry practice lead

at Moody's.

"Banks with significant exposure to impacted sectors in

their loan portfolios must understand, identify, measure, and

manage their climate risk exposure through scenario analysis to

ensure more resilient and sustainable financial operations."

At least 24 people have died due to the fires.

(Reporting by Niket Nishant in Bengaluru and Saeed Azhar in New

York; Editing by Shounak Dasgupta and Devika Syamnath)