On March 9, 2021, FEMA announced a Major Disaster Declaration pertaining to the Louisiana Severe Winter Storms with an incident start date of February 11, 2021and an incident end date of February 19, 2021.
Under the FEMA Declaration, the following twenty-three (23) counties have been designated for Individual Assistance due to the impact of the disaster:
|Bienville||East Baton Rouge||Red River|
Effective immediately, in accordance with agency and investor requirements, NewRez will implement the following requirements for loans secured by properties located in the counties identified above.
If the effective date of the appraisal or appraisal alternative was on or prior to the February 19, 2020 incident end date, an inspection is required in accordance with the Disaster Policy 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’s Disaster Policy for full details.