Correspondent Lending Disaster Area Policy Update- September 27, 2017
September 27, 2017
Re: Natural Disaster Areas Re-inspection Policy (Updated)
AIG Correspondent Lending will require the re-inspection of all properties located in natural disaster areas as determined by FEMA. This specifically addresses, but is not limited to properties located in Texas, Louisiana, and Florida.
The following re-inspection requirements apply to properties located in these areas:
- The re-inspection report 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 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.
This policy applies to all files not yet purchased. Please contact Shane Larscheid, Vice President of Sales with any questions related to this announcement.