On September 23, 2020, FEMA announced a Major Disaster Declaration pertaining to Hurricane Sally in Florida, with no incident period end date. The incident period start date was September 14, 2020.
FEMA Declared Disaster in Florida
On September 23, 2020, FEMA announced a Major Disaster Declaration pertaining to Hurricane Sally in Florida, with no incident period end date. The incident period start date was September 14, 2020.
On September 29, 2020, five (5) counties have been identified and designated for Individual Assistance from FEMA. The currently declared counties are:
- Bay
- Escambia
- Okaloosa
- Santa Rosa
- Walton
Since there is no end date to the disaster, the inspection requirements will be based on the date the counties were identified for Individual Assistance, which is September 29, 2020.
If the effective date of the appraisal or appraisal alternative was on or prior to September 29, 2020, an inspection is required in accordance with NewRez’s FEMA Declared Disaster Policy, or for Wholesale, the 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.
Please reference the FEMA Declared Disaster Policy, or for Wholesale, the Disaster Policy and product profiles for full details.