FEMA Declared Disaster in Iowa
Updated September 4, 2020
On August 17, 2020, FEMA announced a Major Disaster Declaration pertaining to severe storms in Iowa, with an Incident Period End Date of August 11, 2020.
As of September 4, 2020, eleven (11) counties have been identified and designated for Individual Assistance from FEMA. The currently declared counties are:
If the effective date of the appraisal or appraisal alternative was on or prior to the August 11, 2020 Incident End Date, an inspection is required in accordance with the our Disaster Policy 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.