Major Disaster Declaration pertaining to fires in California.
FEMA Declared Disaster in California
On August 22, 2020, FEMA announced a Major Disaster Declaration pertaining to fires in California, with an incident date of August 14, 2020. No incident end date has been declared at this time.
Effective immediately, NewRez is pausing the purchase of loans in the eight (8) counties below that have been identified and designated for Individual Assistance from FEMA.
- San Mateo
- Santa Cruz
We are taking the following steps outlined below and will continue monitoring the fires. We will provide additional updates when FEMA designates an end date, and the suspension can be lifted. Our primary concern is the safety of all of those who may be impacted by these fires.
What you should know:
- As of the close of business today NewRez is pausing the purchase of loans in the eight (8) counties in California listed in the table above.
- Inspections should not be ordered until an end date has been issued by FEMA.
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 Chapter 15, Disaster Policy.