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Correspondent Lending California Fire Disaster Policy - November 7, 2017

Announcement

November 7, 2017

Re: California Fires Disaster Policy

AIG Correspondent Lending has lifted the funding suspension currently in place for properties located in the following counties impacted by the northern California wildfires:

    Butte

    Lake

    Mendocino

    Napa

    Nevada

    Sonoma

    Yuba

Properties located in these counties will require a re-inspection dated after November 7th and must be completed by either the original appraiser or a third-party vendor such as but not limited to Clear Capital®, Summit Valuations©, or Pro Teck Valuation Services©.

    If the re-inspection report is completed by the original appraiser;     the re-inspection must be completed on either form 1004D (Fannie     Mae) or form 442 (Freddie Mac).

    The re-inspection must include exterior photos to support the     inspector’s comments.

    The report must certify there is no damage to the subject property.

The re-inspection policy announced on October 17th remains in place for the following southern California

cities:

    Anaheim

    Anaheim Hills

    City of Orange

    Tustin

    North Tustin

 

These policies apply to all loans not yet purchased. Please contact Shane Larscheid, Vice President of Sales with any questions related to this announcement.

Thank you.