On January 12, 2021, FEMA announced a Major Disaster Declaration pertaining to Hurricane Zeta in Louisiana with an incident end date of October 29, 2020.
As of today, six (6) counties have been identified and designated for Individual Assistance from FEMA. The currently declared counties are:
- St Bernard
If the effective date of the appraisal or appraisal alternative was on or prior to the October 29, 2020 incident end date, an inspection is required in accordance with the Wholesale Disaster Policy and product profiles prior to closing or funding of the loan. Additional requirements may be required depending on the product type.
A condition requiring a property inspection will be added to identified loans.
Please reference NewRez Wholesale Disaster Policy for full details.