Announcement 2020-102 - Louisiana Hurricane Laura (DR-4559-LA) - Updated

As a follow up to Announcement 2020-099 issued on August 26, 2020, we are lifting the pause in closings and fundings of loans in the state of Louisiana. Loan closings and fundings may resume for the previously announced impacted counties.

Hurricane Laura Impacts

 


Updated September 1, 2 , 10 and 12, 2020


 

As a follow up to Announcement 2020-099 issued on August 26, 2020, we are lifting the pause in closings and fundings of loans in the state of Louisiana. Loan closings and fundings may resume for the previously announced impacted counties.

However, on August 28, 2020, FEMA announced a Major Disaster Declaration pertaining to the hurricane in Louisiana, with an Incident Period End Date of August 27, 2020.

As of September 12, twenty-one (21) parishes have been identified and designated for Individual Assistance from FEMA.  The currently declared parishes are:

 

Acadia

Allen

Beauregard

Caddo

Calcasieu

Cameron

Grant

Jackson

Jefferson Davis

La Salle

Lincoln

Morehouse

Natchitoches

Ouachita

Rapides

Sabine

St. Landry

Union

Vermilion

Vernon

Winn

 

 

 

 

 

 

 

If the effective date of the appraisal or appraisal alternative was on or prior to the August 27, 2020 Incident End Date, an inspection is required in accordance with 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.