Disaster Declaration for the State of Hawaii
Disaster Declaration for the State of Hawaii FEMA Notice Date: October 13th, 2023 On August 10, 2023, the Federal Emergency Management Agency (FEMA) declared that
During COVID-19, our guidelines to validate Self Employed Income have changed, in order to provide options in case the borrower’s transcripts cannot be obtained. We still require VVOE and 3rd party verification for all Self Employed Borrowers.
Self Employed – All Products
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.
Income
Wage Earners
Self Employed – Full Doc Conventional
Self Employed – Full Doc VA
Self Employed – Full Doc FHA/USDA
Self Employed – All Products
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 Hawaii FEMA Notice Date: October 13th, 2023 On August 10, 2023, the Federal Emergency Management Agency (FEMA) declared that
Disaster Declaration for the State of Georgia FEMA Notice Date: September 7th, 2023 On September 7, 2023, the Federal Emergency Management Agency (FEMA) declared that
Disaster Declaration for the State of Florida The National Hurricane Center is forecasting that Hurricane Idalia will cause widespread flash flooding along the Gulf Coast
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