FEMA Disaster Declaration for the State of Louisiana – Revised

FEMA updated the Disaster Declaration issued for Louisiana to add an end date.  Additionally, Homebridge has included updated requirements; refer to the highlight below

The Federal Emergency Management Agency (FEMA) issued a Disaster Declaration for the state of Louisiana due to Hurricane Ida

Declaration Date:  August 29, 2021

Incident Period:  August 26, 2021 to September 3, 2021

The following parishes were identified by FEMA:

Ascension, Assumption, East Baton Rouge. East Feliciana, Iberia, Iberville, Jefferson, Lafourche, Livingston, Orleans, Plaquemines, Pointe Coupee, St. Bernard, St. Charles, St. Helena, St. James, St. John the Baptist, St. Martin, St. Mary, St. Tammany, Tangipahoa, Terrebonne, Washington, West Baton Rouge, West Feliciana

Borrower Affidavit

Homebridge will require a Borrower Affidavit of No Damage to be signed by the borrowers with the closing documents on all transactions, regardless of whether or not the file contains an appraisal.

Brokered Transactions

Effective immediately, Homebridge will include a Borrower Affidavit of No Damage with the closing documents when a property is located in one of the above parishes

NDC Transactions

NDCs will be required to provide the Borrower Affidavit of No Damage with their closing documents.  All loans purchased on or after September 20, 2021 will require the signed Borrower Affidavit of No Damage prior to purchase

Fannie Mae or Freddie Mac Transactions with a DU Appraisal Waiver/ LPA ACE Offer

As a result of this updated policy, the signed Borrower Certification will no longer be required.  All appraisal waiver/ACE offer requirements must continue to be met.

A sample Borrower Affidavit of No Damage has been posted on the Forms page of the Homebridge website under General Forms

The FEMA Disaster Declarations Quick Reference Guide located under Miscellaneous on the Working With Us page of the Homebridge website has been updated to reflect the new policy.

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