October 13, 2016
The Federal Emergency Management Agency (FEMA) issued a Disaster Declaration for an incident that occurred in the State of South Carolina.
Declaration Date: October 11, 2016
Incident Period: October 4, 2016
The following counties were identified by FEMA:
- Beaufort, Berkeley, Charleston, Colleton, Darlington, Dillon, Dorchester, Florence, Georgetown, Horry, Jasper, Marion, and Williamsburg.
If the subject property is located in one of the above counties and the appraisal was completed on or before October 4, 2016 REMN Wholesale will require one of the following:
- Borrower affidavit stating property has not been damaged or otherwise adversely affected by Hurricane Matthew AND one of the below:
- An Appraisal Update and/or Completion Report (Fannie Mae Form 1004D), or
- A Desktop Underwriter Property Inspection Report (Fannie Mae Form 2075).
REMN Wholesale prefers the original appraiser provide the 1004D or 2075 however REMN Wholesale 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 AMC Settlement Services, the 1004D or 2075 must also be ordered through AMC Settlement Services).
A 2075 is also required for the three (3) months following the end date of the incident period on the following:
- FNMA transaction with a property inspection waiver (PIW).
- FHA Streamline without an appraisal.
- VA IRRRL.
In the event significant damage is indicated on the 1004D or 2075 additional conditions may apply.
Please contact your Account Executive with any questions.