The Federal Emergency Management Agency (FEMA) issued a Disaster Declaration for the state California of due to wildfires, flooding, mudflows, and debris flows.
Declaration Date: January 2, 2018
Incident Period: December 4, 2017 – ongoing
The following counties were identified by FEMA:
Los Angeles, San Diego, Santa Barbara, Ventura
Please read the following information carefully as the requirements for this Disaster Declaration are unique to this incident; for this incident only, requirements will vary depending on loan program.
FHA (Non-Streamlines), USDA, Jumbo, Jumbo Flex, and Expanded Plus
If the subject property is located in Los Angeles, San Diego, Santa Barbara, or Ventura county and the loan program is one of the above, and the appraisal was completed on or before January 17, 2018 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
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/StreetLinks, the 1004D/2075/CDAIR must also be ordered through Assurant/StreetLinks).
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.
Fannie Mae, Freddie Mac, VA, VA IRRRL, and FHA Streamline
If the subject property is located in Los Angeles, San Diego, Santa Barbara, or Ventura county and the loan program is one of the above HomeBridge will require the following:
- The borrower must sign an Attestation of Property Condition, provided by HomeBridge at loan closing, to certify they have physically inspected the property and there has been no damage to the property due to the wildfires, flooding, and mud slides.
If you have any questions, please contact your Account Executive.