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California Wildfires

On October 10, 2017 FEMA announced a Major Disaster Declaration pertaining to the recent wildfires in California with an incident start date of October 8, 2017.

On October 10, 2017 FEMA announced a Major Disaster Declaration pertaining to the recent wildfires in California with an incident start date of October 8, 2017.

As of today, eight (8) counties have been identified and designated for Individual Assistance from FEMA.  Below is a list of the currently declared counties.

California Impacted Counties

 

Butte, Lake, Mendocino, Napa, Nevada, Orange, Sonoma and Yuba

Conditions are being added to loans that will require an inspection or a full appraisal for those loans where a PIW/ACE had previously been issued per the New Penn Financial Disaster Policy - Section 3.14.  In addition, New Penn Financial will extend rates for those loans that are impacted until October 31, 2017.

Current Pipeline loans that are in the impacted areas will require an inspection to be ordered.  A disaster inspection must be ordered once an end date to the disaster has been determined or further instruction from New Penn Financial Credit Policy has been given indicating inspections are permitted to be ordered.  We will continue to monitor FEMA announcements for any updates to impacted areas.