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FEMA Disaster Declaration for the State of New York – Revised

FEMA updated the Disaster Declaration issued for New York to add an additional county;  refer to the highlight below

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

Declaration Date:  September 5, 2021

Incident Period:  September 1, 2021 to September 3, 2021

The following counties were identified by FEMA:

  • Bronx, Kings, Nassau, Queens, Richmond, Suffolk, Westchester

If the subject property is located in one of the above counties and the appraisal was completed on or before September 3, 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).

Refer to Homebridge Bulletin 21-54 and Bulletin 21-55 posted on the Homebridge website for requirements and flexibilities specific to Hurricane Ida

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

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.

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