The Federal Emergency Management Agency (FEMA) issued a Disaster Declaration for Orange County, CA due to fires, with an incident date of 10/8/2017.
For all FNMA/FHLMC products closing with JMAC Lending in Orange County, a 1004D or CDAIR will not be required unless the property is located in one of the following Orange County zip codes:
- 92602 Irvine
- 92676 Silverado
- 92782 Tustin
- 92807 Anaheim
- 92808 Anaheim
- 92867 Orange
- 92869 Orange
Please note: This update only pertains to Orange County, CA. All other Federal Disaster areas still require either a CDAIR or 1004D per counties listed within each applicable FEMA announcement.
Below is JMAC’s current documentation requirements for conventional loans when a property is located within a Federal Disaster area:
- An exterior Catastrophic Disaster Area Inspection Report (CDAIR) or 1004D of the subject property performed by an appraiser is required.
- Loans previously approved without an appraisal will require an exterior and interior Catastrophic Disaster Area Inspection Report (CDAIR) or 1004D.
Appraisals Completed Prior to Disaster
- Appraiser must comment if the subject property is free from damage, is in the same condition from previous inspection and there has been no change in the valuation.
- Inspection report must include photographs of the subject property and street view.
- Any damage must be repaired and re-inspected prior to closing.
Appraisals Completed After Disaster Event
- Appraiser must comment of the adverse event and certify that there has been no change in the valuation.
- Any existing damage noted from the original report must be repaired and re-inspected prior to closing.
For more information, please contact your JMAC Lending Account Executive.