FEMA Disaster Declarations – California

Announcement 2018 : 01

 

FEMA Disaster Declarations – California

The Federal Emergency Management Agency (FEMA) issued a Disaster Declaration for the state of California due to wildfires.

Declaration Date: January 16, 2018

Incident Period: December 4th, 2017 (on-going)

The following counties require re-inspection:

  • Los Angeles, San Diego, Santa Barbara, and Ventura counties.

If the subject property is located in one of the above counties and the appraisal was completed on or before December 4th, 2017 REMN Wholesale 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
  • A Catastrophic Disaster Area Property Inspection (CDAIR).

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.