Due to California Wildfires, FEMA has declared the following counties a disaster.
Incident Period: November 08, 2018
- If an appraisal was completed prior to the incident date of the disaster, a re-inspection will be required.
- If an appraisal was not required due to a property inspection waiver or product type, an inspection report is still required.
- Regardless of whether or not the transaction requires an original appraisal, an inspection will be required up to and including 90 days from the date the natural disaster occurred, prior to the Note date.
For further guidance and loan property requirements refer to the CMS “Declared Disaster Policy” which is published on CorrIQ at: Declared Disaster Policy.