Updated October 14, 2020 Effective immediately, NewRez will now resume closings and fundings in all zip codes in the three (3) counties below. This applies to Conventional, FHA, VA and USDA products.
Updated October 14, 2020
FEMA Declared Disaster in Oregon
Announcement 2020-108 released on September 16, 2020 addressed that on September 15, 2020, FEMA announced a Major Disaster Declaration pertaining to wildfires and straight-line winds in Oregon, with an incident date of September 7, 2020. No incident end date has been declared at this time.
Announcement 2020-111 announced September 24, 2020 resumed closings and fundings in certain zip codes.
Update
Effective October 14, NewRez will resume closings and fundings in all zip codes in all previously impacted counties as noted below including Clackamas, Lane, Linn and Marion counties. This applies to Conventional, FHA, VA and USDA products.
Refer to NewRez’s FEMA Declared Disaster Policy, or for Wholesale, the Disaster Policy for full requirements.
Conventional and VA Loans
The following zip codes by county will require an inspection or appraisal for conventional and VA loans, as applicable.
|
County |
Zip Codes Eligible for Closing or Funding with Inspection or Appraisal per the Disaster Policy |
||
|
Douglas |
· 97443 · 97447 |
· 97470 |
· 97479 |
|
Jackson |
· 97501 · 97502 · 97504 |
· 97520 · 97522 · 97524 |
· 97535 · 97539 · 97540 |
|
Lincoln |
· 97364 |
· 97368 |
|
For Conventional and VA loans, any loans in zip codes not mentioned above will require:
Conventional:
- Borrower attestation, signed and dated, that there is no damage and they agree to the closing and funding of the loan
- Evidence of acceptable insurance policy in place
VA:
- Veteran’s Certification, signed and dated:
- I have inspected the property located at ____________and find its condition now to be acceptable to me. I understand that I will not be charged for any disaster‐related expenses and now wish to close the loan.
- Evidence of acceptable insurance policy in place
FHA and USDA Loans
Closings and fundings are now eligible in the following counties regardless of zip code and an inspection or appraisal will be required for FHA and USDA loans in accordance with NewRez’s FEMA Declared Disaster Policy, or for Wholesale, the Disaster Policy.
- Douglas
- Jackson
- Lincoln
Eligibility in Clackamas, Lane, Linn and Marion Counties
The four (4) counties below remain eligible for fundings and closings with the exception of the zip codes noted.
These zip codes below remain ineligible for closings and fundings at this time. This applies to Conventional, FHA, USDA and VA products. Refer to the Disaster Policy for full requirements.
Conventional, FHA, USDA and VA Loans
The following zip codes by county remain ineligible for closing and funding at this time for conventional and VA loans, as applicable.
|
County |
Zip Codes Ineligible for Closing or Funding |
||
|
Clackamas |
· 97004 · 97009 · 97015 |
· 97017 · 97022 · 97023 |
· 97038 · 97042 · 97055 |
|
Lane |
· 97413 · 97438 |
· 97454 · 97478 |
· 97488 · 97489 |
|
Linn |
· 97358 · 97346 |
· 97360 |
· 97386 |
|
Marion |
· 97342 · 97346 · 97358 |
· 97360 · 97375 · 97381 |
· 97383 · 97385 |
For Conventional and VA loans, any loans in zip codes not mentioned above will require:
Conventional:
- Borrower attestation, signed and dated, that there is no damage and they agree to the closing and funding of the loan
- Evidence of acceptable insurance policy in place
VA:
- Veteran’s Certification, signed and dated:
- I have inspected the property located at ____________and find its condition now to be acceptable to me. I understand that I will not be charged for any disaster‐related expenses and now wish to close the loan.
- Evidence of acceptable insurance policy in place
For FHA and USDA loans, any loans in zip codes not mentioned above will require:
- An inspection or appraisal in accordance with the Disaster Policy.
Closings and Fundings Eligible in Klamath County
Effective September 24, NewRez lifted the pause in closings and fundings in Klamath County. This applies to Conventional, FHA, VA and USDA products. Refer to NewRez’s FEMA Declared Disaster Policy, or for Wholesale, the Disaster Policy for full requirements.
Conventional and VA Loans
The following zip codes by county will require an inspection or appraisal for conventional and VA loans, as applicable.
|
County |
Zip Codes Eligible for Closing or Funding |
|
|
Klamath |
· 97623 |
· 97624 |
All other zip codes in Klamath will require the following:
Conventional:
- Borrower attestation, signed and dated, that there is no damage and they agree to the closing and funding of the loan
- Evidence of acceptable insurance policy in place
VA:
- Veteran’s Certification, signed and dated:
- I have inspected the property located at ____________and find its condition now to be acceptable to me. I understand that I will not be charged for any disaster‐related expenses and now wish to close the loan.
- Evidence of acceptable insurance policy in place
FHA and USDA Loans
Closings and fundings are now eligible in Klamath County regardless of zip code and an inspection or appraisal will be required for FHA and USDA loans in accordance with NewRez’s FEMA Declared Disaster Policy, or for Wholesale, the Disaster Policy.
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.