We hope that all of our broker partners and your families are safe following Hurricane Irene.
We understand the aftermath is a very stressful time and we want to help out as much as we can.


PURCHASES

Loans scheduled to close 8/29 and after will require the following:

  • Confirmation from Settlement Agent that all parties are able and wish to proceed with the transaction.
  • Property Re-Inspection to confirm no damage – if an appraiser cannot complete the inspection prior to closing – a REMN staff member must complete the inspection. If the property condition is satisfactory, the closing can proceed, however, the buyer will be required to place $1,000 in escrow to be held by REMN so that a professional re-inspection can take place within 48 hours of closing.
  • Written confirmation from the Homeowner’s Insurance Company that there is a valid policy in effect.
  • Borrower will be required to sign a Hold Harmless in favor of REMN.

 


REFINANCES

 

Loans scheduled to fund 8/29 and after as well as requests for closing dates 8/29 going forward will require the following:

  • Property Re-Inspection to confirm no damage – if an appraiser cannot complete the inspection prior to closing – a REMN staff member must complete the inspection. If the property condition is satisfactory, the closing can proceed, however, the buyer will be required to place $1,000 in escrow to be held by REMN so that a professional re-inspection can take place within 48 hours of closing.
  • Borrower will be required to sign a Hold Harmless in favor of REMN.
Important Changes To Our Broker and Emerging Banker Agreements  Read More