Announcement 2026-037 Disaster Policy

Disaster Policy

Newrez LLC "Newrez" Approved Correspondent Clients: Disaster Policy has been updated to reflect Non-QM Loan Property Inspection Requirements as shown below:

For loans with an appraisal date prior to the Disaster Incident Period End Date, the following is required:  

• A Disaster Area Inspection Report (DAIR) or equivalent with supporting photos evidencing the property is free from damage and the disaster had no effect on the value or marketability.
  • If damage is noted by the inspection, all damage must be repaired and verified as complete prior to closing.

For loans with an appraisal date after the Incident Period Start Date, but before the Incident End Period, when the disaster is not ongoing (i.e., Tornado or High Winds), the appraisal can be used to validate no damage.

Complete details are located in Ch 7A, Disaster Policy, 7A.9 Non-QM Loan Property Inspection Requirements