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California Disaster Update

Properties located in FEMA declared disaster areas with Individual Assistance requires the following guidelines be met. These areas can be identified on the FEMA website: https://www.fema.gov/disasters.

Conforming Loans

  • An exterior Catastrophic Disaster Area Inspection Report (CDAIR) 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).

Non-Conforming and Government Loans

  • An exterior and interior Catastrophic Disaster Area Inspection Report (CDAIR) of the subject property performed by an appraiser is required

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.

Guidelines for disaster areas should be followed for 90-days from the disaster period end date.

Note: A 1004D Disaster Inspection Report can be ordered in lieu of a Catastrophic Disaster Area Inspection Report (CDAIR) if applicable.

INDIVIDUAL ASSISTANCE – CALIFORNIA WILDFIRES

The Federal Emergency Management Agency (FEMA) announced that federal disaster aid with individual assistance has been made available to supplement individual, state, and local recovery efforts in the areas affected by California Wildfires:

California Counties with
Individual Assistance (DR-4344)

FEMA
Notice Date

Butte

10/14/2017

Lake

10/14/2017

Mendocino

10/14/2017

Napa

10/13/2017

Nevada

10/15/2017

Orange

10/15/2017

Sonoma

10/12/2017

Yuba

10/14/2017