On June 1, 2019, FEMA announced a Major Disaster Declaration pertaining to the recent severe storms and flooding in Oklahoma, with an Incident Period of May 7 and ongoing.
FEMA Declared Disaster in Oklahoma
Until FEMA declares the close of the Incident Period, inspections may not be ordered, and loans will not be able to close and fund.
As with all disasters, the affected areas are not definitively confirmed until FEMA formally designates such areas, which occurs following the completion of the incident and an assessment of the damage. As a result, we will continue to monitor FEMA announcements for impacted areas in order to update any additional impacted counties.
As of today, three (3) counties have been identified and designated for Individual Assistance from FEMA. Below is a list of the currently declared counties:
A condition requiring a property inspection will be added to identified loans and the expectation is that a disaster inspection will be ordered once an end date to the disaster has been determined.
Please reference the FEMA Declared Disaster Policies and Procedures and product profiles for full details.