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Announcement # 2018-62 Hurricane Florence Update

Announcement # 2018-62 Hurricane Florence Update

September 20, 2018 

Hurricane Florence Update

As a follow up to Announcement 2018-60, New Penn Financial continues to monitor the impact from Hurricane Florence. As of today, September 20, 2018, we are removing the following counties in North Carolina: Alamance, Chatham, Durham, Guilford, Nash, Wake and Wilson. We are also removing the following counties in South Carolina: Calhoun, Chester and Orangeburg. Loans may now be funded/purchased in these counties and are not subject to an inspection unless a county is added to a subsequent update of the FEMA Disaster Declarations.

The following counties below will continue to be under a funding/purchase suspension until further notice:

NORTH CAROLINA:

ANSON

DAVIDSON

LEE

RICHMOND

BEAUFORT

DAVIE

LENOIR

ROBESON

BERTIE

DUPLIN

MARTIN

ROWAN

BLADEN

EDGECOMBE

MONTGOMERY

SAMPSON

BRUNSWICK

FORSYTH

MOORE

SCOTLAND

CAMDEN

GATES

NEW HANOVER

STANLEY

CARTERET

GREEN

ONSLOW

TYRELL

CHOWAN

HARNETT

PAMLICO

UNION

COLUMBUS

HERTFORD

PASQUOTANK

WASHINGTON

CRAVEN

HOKE

PENDER

WAYNE

CUMBERLAND

HYDE

PERQUIMANS

 

CURRITUCK

JOHNSTON

PITT

 

DARE

JONES

RANDOLPH

 

 

SOUTH CAROLINA:

CHESTERFIELD

FLORENCE

LANCASTER

SUMTER

CLARENDON

GEORGETOWN

LEE

WILLIAMSBURG

DARLINGTON

HORRY

MARION

YORK

DILLON

JASPER

MARLBORO

 

FAIRFIELD

KERSHAW

RICHLAND

 

Any counties in North Carolina, South Carolina and Virginia that were previously suspended as part of Announcements 2018-56 and 2018-60 and DO NOT appear on the list above, will not require a subsequent inspection unless they appear on a future FEMA Declared Disaster update.

What you should know:

  • Funding/purchase for loans secured by properties in the above referenced counties remain suspended.
  • Loans secured by properties located in the states of North and South Carolina that do not appear on the above referenced counties may fund at this time. Property inspections will not be required unless a county is added to FEMA’s Presidentially Declared Disaster List.
  • We will continue to monitor the need for additional extensions in the coming days.
  • Additional updates to add or remove impacted counties will occur as more information becomes available and flooding from cresting rivers begins to subside.
  • Once the suspension has been lifted, loans that have not yet been purchased that fall into impacted areas will require the appropriate inspection as outlined in New Penn Financials’ Disaster Policy, Chapter 9 Collateral Audit and Funding.

We will continue to monitor FEMA announcements as well as news and updates from local and state government agencies to provide updates as necessary.