On April 26, 2021, FEMA announced a Major Disaster Declaration for the Alabama Severe Storms, Straight-line Winds, And Tornado events with an incident start date of March 25, 2021 and an incident end date of March 26, 2021.
Under the FEMA Declaration, the following eight (8) counties have been designated for Individual Assistance due to the impact of the disaster:
Effective immediately, in accordance with agency and investor requirements, NewRez will implement the following inspection 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 March 26, 2021 incident end date, an inspection is required in accordance with the NewRez 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 refer to the NewRez Disaster Policy for full details.