FLORIDA FEMA Disaster Declaration – DR-4828 – (ALL LOANS) Hurricane Helene Florida 9/30/2024 – 1

FLORIDA FEMA Disaster Declaration – DR-4828 – (ALL LOANS) Hurricane Helene

Florida 9/30/2024 – 1

Incident Date:  Not Established

Declaration date: September 23, 2024

Type:   Severe Storm, Flooding, Landslides, and Mudslides

FEMA ID: 4828

FEMA Link:  https://www.fema.gov/disaster/4828

Please review your pipeline of FLORIDA loans.  If we have a loan within the incident areas listed below you must follow the guidance provided below per the loan type.  A condition will be added by the UW to these loans in the incident areas listed below.

PLEASE NOTE:   There is currently no end date to the incident period, so the incident date is currently on going.  I will monitor the FEMA reports and post when an incident end date is given.  Until then all loans in the counties listed below will need a Disaster Cert Re-Inspection now and into the near future.  Please make note and monitor the pipeline as it moves forward.

 TYPE of re-inspection allowed PER LOAN TYPE listed below:

CONVENTIONAL LOANS ONLY:

Interior and Exterior disaster re-inspections are not required on CONVENTIOANL LOANS if the guidance below is followed:

NOTE: Files with PIWs must have Final Approval AUS reflecting that the PIW is still eligible.  If we lose the PIW eligibility on the Final Approval AUS we will be required to order a Full Appraisal.

NOTE:  Since the incident end date has not yet been established the below will be required until further notice.

If we have a CONVENTIONAL LOAN closing/funding in the counties indicated on the FEMA disaster area list, we will allow the file to close/fund with the following Property Condition Certification form signed.  With the properly executed form a disaster re-inspection will not be required.

**PROPERTY CONDITION CERTIFICATION FORMS (Purchase and Refi) are located in the Encompass print menu – custom forms.

CONVENTIONAL PURCHASE transactions:

The property certification form specifically for purchase transactions can be located in the Encompass print menu – custom forms.  Buyer, Seller, and or Real Estate agents that are part of the transaction can sign/certify the form.  The borrower must also sign the form indicating that they will allow Mutual of Omaha to perform an interior inspection in the future if we deem one necessary.  NO PHOTOS required.  If the form is not signed we will not be able to close/fund the transaction unless an Interior and Exterior disaster re-inspection is completed.  If the borrower indicates that damage has occurred to the subject property this must to brought to Upper Management immediately to review for next steps before we allow the file to close/fund.

CONVENTIONAL REFINANCE transactions:

The property certification form specifically for refinance transactions can be located in the Encompass print menu – custom forms.   The borrower must sign/certify the form.  The form also indicates that they will allow Mutual of Omaha to perform an interior inspection in the future if we deem one necessary.  PHOTOS ARE REQUIRED ON ALL CASH OUT TRANSACTIONS.  If the form is not signed we will not be able to close/fund the transaction unless an Interior and Exterior disaster re-inspection is completed.  If the borrower indicates that damage has occurred to the subject property this must to brought to Upper Management immediately to review for next steps before we allow the file to close/fund.

THESE FORMS MUST BE EXECTUED PRIOR TO CLOSING. 

FHA LOANS ONLY:

FHA LOANS Full Doc:

FEMA Declared incident period beginning date is September 23, 2024

Incident End Date has not yet been established.

If the appraisal is dated:

• On or before the incident period end date, or
• Within 14 calendar days from the incident begin date, whichever is earlier

FHA requires a disaster inspection (Interior and Exterior).  The report must be dated after:

• The incident period end date, or
• 14 calendar days from the incident begin date, whichever is earlier – The disaster inspection would need to be date on or after October 7th

FHA LOANS Streamline:

Incident End Date has not yet been established.

FHA Streamline loans are required to obtain an Interior and Exterior disaster inspections.  A Disaster inspection will be required for all FHA Streamline loans until December 23, 2024.  If the file’s close date is on or after December 24, 2024 a Disaster inspection is not required.

VA LOANS ONLY:

VA LOANS Full Doc:

VA Full Doc Loans are required to obtain an Interior and Exterior disaster inspections.  A Disaster inspection will be required for all VA Full Doc loans until further notice.

VA LOANS IRRRL (Streamlines):

Incident End Date has not yet been established.

VA  IRRRL Loans are required to obtain an Interior and Exterior disaster inspections.  A Disaster inspection will be required for all VA IRRRL loans until further notice.

NOTE:

***This is subject to change if more information is obtained from FEMA or our investors.

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