FEMA Declared Disaster in Mississippi
On April 16, 2020, Announcement 2020-049 addressed the Major Disaster Declaration pertaining to the recent severe storms, tornadoes, straight-line winds, and flooding in Mississippi, with an Incident Period End Date of April 12, 2020.
As of today, six (6) additional counties have been identified and designated for Individual Assistance from FEMA. This brings the total to nine (9) counties in total. The currently declared counties are:
· Jefferson Davis
If the effective date of the appraisal or appraisal alternative was on or prior to the April 12, 2020 Incident End Date, an inspection is required in accordance with the FEMA Declared Disaster Policies and Procedures and product profiles prior to closing or funding of the loan.
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.
A condition requiring a property inspection will be added to identified loans.
Please reference the FEMA Declared Disaster Policies and Procedures and product profiles for full details.