FEMA Disaster Declaration for the State of Arkansas

The Federal Emergency Management Agency (FEMA) issued a Disaster Declaration for the state of Arkansas due to severe storms and tornadoes

Declaration Date:  December 23, 2021

Incident Period:  December 10, 2021 to December 11, 2021

The following counties were identified by FEMA:

  • Craighead, Jackson, Mississippi, Poinsett, Woodruff

If the subject property is located in one of the above counties and the appraisal was completed on or before December 11, 2021 Homebridge will require one of the following:

  • An Appraisal Update and/or Completion Report (Fannie Mae Form 1004D), or
  • A Desktop Underwriter Property Inspection Report (Fannie Mae Form 2075), or
  • Catastrophic Disaster Area Property Inspection Report (CDAIR); refer to Homebridge Bulletin 17-23 for details, AND
  • VA transactions only (when appraisal was required). A signed Lender and Veteran Certification

Homebridge prefers the original appraiser provide the 1004D/2075/Catastrophic Disaster Area Property Inspection Report (CDAIR) however Homebridge will accept the report from any appraiser as long as the original Appraisal Management Company assigns the appraiser (i.e. if the original appraisal order was placed through Assurant, the 1004D/2075/CDAIR must also be ordered through Assurant).

The 1004D, 2075, or CDAIR must comment on the effect the disaster had on the value and marketability of the subject property.  In the event significant damage is indicated on the 1004D, 2075, or CDAIR additional conditions may apply.

A 2075/CDAIR is not required on an FHA Streamline or VA IRRRL transaction

Transactions with a DU appraisal waiver or an LPA ACE offer, if an appraisal waiver/ACE offer applies to the transaction all appraisal waiver/ACE offer requirements must be met; if not, an appraisal is required

A Borrower Affidavit of No Damage, signed with the closing docs, is required for all transactions (regardless of whether or not an appraisal was obtained).  If an appraisal waiver/ACE offer applies to the transaction, all appraisal waiver/ACE offer requirements must be met.

  • Brokered Transactions: Effective immediately, Homebridge will include a Borrower Affidavit of No Damage with the closing documents when a property is located in a county identified by FEMA
  • NDC Transactions: NDCs will be required to provide the Borrower Affidavit of No Damage with their closing documents. All loans purchased on or after Thursday, December 30, 2021 will require the signed Borrower Affidavit of No Damage prior to purchase (sample version posted on the Forms page of the Homebridge website)

If you have any questions, please contact your Account Executive.