10/29/2020 7:00:00 AM | Newsroom

Umpqua Bank Provides Additional Relief to Homeowners Impacted by Wildfires

Bank waives up to $10,000 in financing costs for home rebuilding, renovation

Umpqua Bank, a subsidiary of Umpqua Holdings Corporation, announced today it will provide additional financial relief to homeowners impacted by wildfires seeking to rebuild, renovate or purchase a new home.

In West Coast communities declared federal disaster areas by the Federal Emergency Management Agency, Umpqua is waiving the loan origination fee up to $10,000 for impacted homeowners renovating or rebuilding their home. The bank estimates that most eligible homeowners will save between $2,000 and $5,000, depending on their home’s total cost. For impacted homeowners with loans serviced by Umpqua in designated areas, the bank will also waive any bank fees associated with purchasing another home.

“The devastation in some of our communities is staggering and almost unimaginable. As the hard work of recovery continues, we want our friends, neighbors and associates to know that we’re committed for the long haul,” said Umpqua Bank CEO Cort O’Haver. “Every little bit of support, financial or otherwise, is needed and helps those struggling to rebuild what was lost.”

Today’s announcement marks an expansion of Umpqua’s Wildfire Relief Program as wildfires in California have forced thousands of people to evacuate their homes this week. The program was initially launched last month to help communities across Oregon, Washington and California recover from devastating wildfires that consumed more than 5 million acres and resulted in more than 30 deaths across the region.

As part of that launch, the bank announced $750,000 in funding to support impacted communities and small businesses. Umpqua also activated a Mortgage Relief program, as well as its Disaster Relief Loan Program to provide households access to cash quickly and help them recover financially.

For more information on relief for homeowners impacted by the wildfires, visit: https://www.umpquabank.com/blog/disaster-relief-loans-fires/

About Umpqua Bank
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation, and has locations across Idaho, Washington, Oregon, California and Nevada. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company has been recognized for eight years in a row on FORTUNE magazine's list of the country's "100 Best Companies to Work For," and was recently named by The Portland Business Journal the Most Admired Financial Services Company in Oregon for the fifteenth consecutive year. In addition to its retail banking presence, Umpqua Bank also owns Financial Pacific Leasing, Inc., a nationally recognized commercial finance company that provides equipment leases to businesses.