FEMA Disasters Declarations updated
Effective immediately if the property is located within the designated disaster area and the original appraisal was done before the area was declared a disaster area, underwriting will require a re-inspection of the property.
If the appraisal is performed on a property after the area is declared a disaster area, the appraiser must submit written certification that the property is free from damage and the disaster has had no effect on value or marketability.
Along with required information needed above. The appraiser must also provide the following statement:
"Having reviewed the original appraisal report and personally inspected the exterior of the property located at (subject address) and surrounding neighborhood on (date), I hereby certify that, to the best of my knowledge and belief, the inspection revealed no indications of moderate to significant physical damage to the property or neighborhood, no needed repairs to the site or the improvements other than those that were noted in the original appraisal report and that the marketability and value of the property has not been adversely affected."
The re-inspection needs to been done prior to closing and cannot be a closing condition. Loans that have already been issued a Final Clear to Close but have not funded must have a re-inspection completed.
The following counties have been declared disaster areas in Florida by FEMA on 8/18/2008: Brevard, Duval, Hendry, Lee, Leon, Okeechobee, Seminole, St. Lucie, Wakulla and Volusia
The following counties have been declared disaster areas in Florida by FEMA on 9/11/2008: Baker, Collier, Glades, Jefferson, Lake, Marion , Nassau Orange and Polk Counties
The following counties have been declared disaster areas in Florida by FEMA on 8/18/2008: Alachua, Gadsden, Liberty, Martin
The following counties have been declared disaster areas in Illinois by FEMA on 5/25/2008 : Adams, Calhoun, Clark, Coles, Crawford, Cumberland, Douglas, Edgar, Hancock, Henderson, Jasper, Jersey, Knox, Lake, Lawrence, Madison, Mercer, Pike, Rock Island and Winnebago.
The following counties have been declared disaster areas in Illinois by FEMA on 09/13/2008: Cook, DeKalb, DuPage, Grundy, Kane, LaSalle and Will.
The following counties have been declared disaster areas in Indiana by FEMA on 6/1/2008: Adams, Bartholomew, Boone, Brown, Clay, Daviess, Dearborn, Decatur, Greene, Franklin, Gibson, Grant, Jefferson, Hamilton, Hancock, Hendricks, Henry, Huntington, Jackson, Jennings, Johnson, Lawrence, Knox, Madison, Marion, Monroe, Morgan, Ohio, Owen, Parke, Pike, Posey, Putnam, Randolph, Ripley, Rush, Shelby, Sullivan, Tippecanoe, Union, Wayne, Washington, Vermillion, and Vigo Counties.
The following counties have been declared disaster areas in Indiana by FEMA on 9/12/2008: Clark, Crawford, Dearborn, Harrison, Jackson, Jefferson, Jennings, Knox, LaPorte, Lake, Lawrence, Martin, Pike, Porter, Spenser and Switzerland
The following counties have been declared disaster areas in Iowa by FEMA on 5/25/2008: ALL Counties.
The following counties have been declared disaster areas in Missouri by FEMA on 5/25/2008: Clark, Lewis, Marion, Ralls, Pike, Lincoln, St. Charles, Jefferson.
The following counties have been declared disaster areas in Missouri by FEMA on 7/11/2008: Gentry, Linn, Livingston.
The following counties have been declared disaster areas in Missouri by FEMA on 7/18/2008: Andrew, Cass, Greene, Holt, Johnson, Nodaway, Stone, Taney, Webster and Vernon.
The following counties have been declared disaster areas in Nebraska by FEMA on 5/22/2008: Buffalo, Butler, Colfax, Custer, Dawson, Douglas, Gage, Hamilton, Holt, Jefferson, Kearney, Lancaster, Platte, Richardson, Sarpy, and Saunders.
The following counties have been declared disaster areas in Texas by FEMA on 7/22/2008:Cameron, Hidalgo, and Willacy.
The following counties have been declared disaster areas in Texas by FEMA on 9/7/2008: Angelina, Austin, Brazoria, Chambers, Cherokee, Fort Bend, Galveston, Grimes, Hardin, Harris, Houston, Jasper, Jefferson, Liberty, Madison, Matagorda, Montgomery, Nacogdoches, Newton, Orange, Polk, Sabine, San Augustine, San Jacinto, Trinity, Tyler, Walker, Waller, and Washington Counties.
The following counties have been declared disaster areas in Wisconsin by FEMA on 6/5/2008: Adams, Calumet, Crawford, Columbia, Dane, Dodge, Fond Du Lac, Grant, Green, Iowa, Jefferson, Juneau Kenosha, Lake, LaCrosse, Manitowoc, Marquette, Milwaukee, Ozaukee, Racine, Richland, Rock, Sauk, Sheboygan, Walworth, Washington, Waukesha, Winnebago and Vernon Counties.
Please feel free to contact your VP of Wholesale Lending or the Underwriting Department for further clarification if needed.
Thank you for your continued business!!