Disaster Declaration for the State of Michigan
Disaster Declaration for the State of Michigan FEMA Notice Date: February 8th, 2024 On February 8, 2024, the Federal Emergency Management Agency (FEMA) declared that
COVID-19 Guidance
Due to current market conditions, temporary changes to our employment re-verification process are necessary to manage risk. The changes below apply to loans underwritten.
HUD announced today that they have changed the effective date. The new guidelines are now effective with any case assignment dated on or after August 12th.
Income
Wage Earners
Self Employed – Full Doc Conventional
Self Employed – Full Doc VA
Self Employed – Full Doc FHA/USDA
Rental Income Support
Rental Income Support – FHA
Forbearance – Conventional Loans
Borrowers who are currently or have been in forbearance, are acceptable in certain cases:
Forbearance – FHA, VA, USDA Loans
Temporary Appraisal Guidance-Conventional Loans
A Drive by Appraisal is acceptable if the loan fits within the below metrics:
Appraisal Guidance-FHA/VA/USDA Loans
FHA/USDA:
VA:
Age of Documentation- Conventional Products
Age of Documentation- FHA/VA/USDA Products
COVID-19 Borrower Certification:
Disaster Declaration for the State of Michigan FEMA Notice Date: February 8th, 2024 On February 8, 2024, the Federal Emergency Management Agency (FEMA) declared that
Disaster Declaration for the State of Maine FEMA Notice Date: January 31, 2024 On January 30, 2024, the Federal Emergency Management Agency (FEMA) declared that
Disaster Declaration for the State of Rhode Island FEMA Notice Date: January 7, 2024 On January 7, 2024, the Federal Emergency Management Agency (FEMA) declared
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