Correspondent Lending Hurricane Florence Funding Postponement-September 13, 2018
September 13, 2018
Re: Hurricane Florence Funding Postponement
AIG Correspondent Lending will temporarily postpone all fundings for properties located in the following states as a result of the anticipated path of Hurricane Florence:
- North Carolina
- South Carolina
We will reassess the situation after such time Hurricane Florence has moved through these areas. Locations within these two states not impacted by the storm will have the funding delay reversed, while property locations impacted by the Hurricane will require a final inspection to confirm no property damage impacting safety or soundness.
Should it be determined that the property is located in a storm impacted area, the following re-inspection requirements will apply:
- A re-inspection completed by the original appraiser on forms 1004D or 442 or a re-inspection by a third party vendor such as but not limited to Clear Capital®, Summit Valuations©, or Pro Teck Valuation Services©.
- The re-inspection must include exterior photos to support the inspector’s comments.
- The re-inspection must certify there is no damage to the subject property.
This funding delay may be expanded to additional areas as necessitated by the path of the storm, and only applies to all files not yet purchased.
Please contact Shane Larscheid, Vice President of Sales with specific questions related to this announcement.